Passport, Marcato Extend Double-Digit Gains

Dec 5 2013 | 2:23pm ET

A pair of San Francisco-based hedge funds returned 2.4% last month, solidifying their double-digit returns as 2013 draws to a close.

Marcato Capital Management is now up 23.6% on the year after last month's gains, while Passport Capital is up 18.3%, Reuters reports. Marcato has $2.5 billion in assets under management and Passport $3.1 billion.

Both funds are easily lapping the field this year, with the average hedge fund up about 6%, according to industry indices.

Passport has investments in Asian internet companies to thank for its strong 2013, as well as short bets against gold, copper and mining stocks.


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