Thursday, 31 July 2014
Last updated 8 hours ago
Jan 8 2014 | 12:33pm ET
Last year was a forgettable one for several top quantitative hedge funds—and other prominent industry players, as well.
Bridgewater Associates, the world's largest hedge fund, saw its Pure Alpha II drop 0.8% in December to end 2013 up only 5.3%—a far cry from the Standard & Poor's 500 Index's 30% surge. At least, however, Bridgewater was up: BlueCrest Capital Management's BlueTrend fund suffered its first-ever down year, off by 12% following a 3.1% December drop, Bloomberg News reports.
Even those quants that did relatively well found themselves looking up at soaring stocks. Renaissance Technologies' Institutional Equities Fund rose 18% in 2013, fully 12 points behind the S&P500.
Other hedge funds enjoying double-digit (but still sub-S&P500) returns last year included Hutchin Hill Capital, which rose 19% (2.4% in December), according to Bloomberg, and Moore Capital Management, whose Global Investments Fund added 15% through Dec. 19 (down 0.7% on the month) and whose Macro Managers Fund was up 13% (0.4% in December). MKP Capital Management's $2.4 billion Credit Fund rose 11% last year (0.9% in December), while its $4.8 billion Opportunity Fund settled 7.1% (1.1% in December), in line with industry averages.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…