Metacapital Tops Bloomberg Hedge Fund Performance List

Jan 4 2013 | 1:22pm ET

Metacapital Management's Mortgage Opportunities Fund was the best-performing hedge fund of the year on Halloween, according to Bloomberg Markets' annual ranking of the world's richest hedge funds.

The $1.5 billion hedge fund, helmed by Deepak Narula, was up 37.8% through Oct. 31, topping its 23.6% return from 2011. Narula has invested heavily in agency mortgages; he's returned 520% to investors since he launched the fund four-and-a-half years ago.

Metacapital's success is something of a harbinger for the rest of the list of the 100 best-performing hedge funds of the year through October. Two other top-five hedge funds engage in mortgage-backed arbitrage, both from Pine River Capital Management: It's $3.6 billion Fixed-Income Fund placed second with a 32.9% return and its $1.1 billion Liquid Mortgage Fund fourth at 28%. Both funds are run by Steve Kuhn.

CQS's Directional Opportunities Fund was third at 28.9% and Odey Asset Management's European Fund fifth at 24.1%. Both of those funds suffered double-digit losses in 2011.

Marathon Asset Management's Securities Credit Fund and Appaloosa Management's Palomino Fund followed with 24% returns. BTG Pactual Global Asset Management's GEMM Fund was eighth at 23.1%, Third Point's Ultra Fund ninth at 22.1% and Omega Advisors' Overseas Partners A fund 10th at 21.7%.

Seer Capital Management returned 21.6%, Tiger Global Management 21%, Eminence Capital 20.9%, Jana Partners' Master Fund 20.4%, Structured Portfolio Management's Structured Servicing Holdings Fund 20.3%, Citadel Investment Group's Tactical Trading Fund 20%, Viking Global Investors' Long Fund 19.4%, Cerberus Capital Management's RMBS Opportunities Fund 19%, and LibreMax Capital and Pine River's eponymous fund each 18.5%.

Other notable names included Man Group's AHL Evolution and Citadel's Kensington and Wellington funds, tied at 22nd with an 18% return, DoubleLine Capital's Opportunistic Income Fund at 26th with a 17.4% return, D.E. Shaw Group's Heliant Fund at 29th with a 16.8% return, Maverick Capital Management at 31st with a 16% return, Fortress Investment Group's Drawbridge Special Opportunities Fund at 37th with a 15.1% return, Bridgewater Associates' All Weather Fund at 43rd with a 14% return, Fortress' Macro Fund at 59th with a 12.5% return, Greenlight Capital at 65th with an 11.4% return, Elliott Associates at 74th with a 10.6% return, Paulson & Co.'s Enhanced fund at 76th with a 10.5% return, Avenue Capital Group's International Fund and SAC Capital Advisors' International Fund tied at 86th with 10% returns, and Och-Ziff Capital Management's flagship OZ Master Fund at 93rd with a 9.5% return.


In Depth

Q&A: Executive Recruiter Talks Hedge Fund Closures, Hiring Trends

Dec 19 2014 | 6:58am ET

This year, hedge funds have been closing at a rate not seen since the financial...

Lifestyle

Cooper-Hohn Won't Contest Divorce Settlement

Dec 18 2014 | 9:51am ET

The ex-wife of hedge fund billionaire Christopher Hohn will not contest a divorce...

Guest Contributor

Alternative Investment Funds Face A Communications Imperative

Dec 19 2014 | 6:10am ET

A handful of the top alternative investment firms on both sides of the Atlantic...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.