Wednesday, 25 November 2015
Last updated 13 hours ago
Jan 9 2013 | 12:49pm ET
Winton Capital Management suffered its second-ever annual loss last year, headlining a difficult year for British quantitative hedge funds.
Winton's US$10 billion flagship Futures Fund fell 3.5% in 2012. The fund had lost money only one other year since its launch in 1997.
"It's always disappointing when we're down, but it's important to remember that this is only the second time it has happened in 16 years," a spokesman for Winton chief David Harding told The Independent.
It may be small comfort, but Winton was certainly not alone in 2012. While the average hedge fund posted returns in the mid-single digits last year, quant funds did not do so well. The Newedge CTA Trend Sub-Index lost 3.4% last year, its second-straight down year. Other prominent quants to lose ground last year include Man Group's AHL Diversified Fund, which lost 2.1%.
Winton last lost money in 2009, when it was down 4%. It rose 6% in 2011, otherwise a difficult year for quants.
Of course, not every computer-driven fund lost money last year. Cantab Capital Partners' quant fund rose 15% last year, and BlueCrest Capital Management eked out a second-straight sub-1% annual return, rising 0.02% last year.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…