Passport, Marcato Extend Double-Digit Gains

Dec 5 2013 | 1:23pm 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.


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Moore Capital PM Fired After Raucous Hamptons Party

Jul 7 2016 | 10:47pm ET

A portfolio manager for Louis Bacon’s $15 billion hedge fund Moore Capital Management...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...