Elliott Up 12%

Jan 8 2014 | 12:31pm ET

Elliott Management scored sizeable gains in December to push its returns into double-digit territory for the year.

The New York-based firm's $8.3 billion Elliott Associates rose 12.4% in 2013 after adding 2.6% in December. Elliott International, which manages $15.6 billion, posted slightly more modest gains of 2.5% last month and 11.8% last year.

Elliott easily topped its peers in 2013; industry indices show the average hedge fund had mid-single-digit returns for the year. But like just about all hedge funds, it badly underperformed the soaring stock market; the Standard & Poor's 500 Index rose 30% last year.

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