Monday, 25 July 2016
Last updated 2 days ago
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.