Discovery Capital Up 15%

Sep 20 2013 | 12:18pm ET

A low-profile hedge fund manager is posting some high-impact returns this year.

Discovery Capital Management, headed by Tiger Management veteran Robert Citrone, is up 15% this year, The Wall Street Journal reports. That is in line with the South Norwalk, Conn.-based firm's annualized returns since its 1999 debut, which stand at about 17%.

The $12 billion macro specialist has profited from short bets against emerging markets such as China, Brazil and India. On the long side, Discovery has done well investing in Japan, the U.S. and the U.S. dollar. The firm is still long Japanese stocks.

The returns are even more impressive, given the roughly six-week stretch in May and June during which the firm's $8.5 billion flagship dropped 9%.


In Depth

'Smart Beta' Funds In Regulators' Sights, Hedgies May Be Next

Mar 26 2015 | 11:11am ET

Funds that mimic strategies used by active managers for a fraction of the cost could...

Lifestyle

Study: Both Marriage and Divorce Lead to Negative Hedge Fund Performance

Mar 25 2015 | 6:51pm ET

Trouble at home leads to trouble in the market for fund managers, according to researchers...

Guest Contributor

The Life Settlement: Yield For The Investor And Cash For The Consumer

Mar 31 2015 | 6:48am ET

Investors are languishing in a yield-starved, low-interest rate environment, looking...

 

Sponsored Content

    Mar 9 2015 | 6:35am ET

    Kelly RodriquesKelly RodriquesAs more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…

Editor's Note