Big-Name Hedge Funds Post Mixed Results for January

Big-name hedge fund managers have posted mixed results for January, with some outperforming while others underperformed. According to data provided by HSBC’s Alternative Investment Group, a couple of the top-performing managers included Passport Capital and Systematica Investments, the newly-formed spinoff of BlueCrest Capital’s Management’s computer-driven hedge funds. Passport Capital’s Special Opportunities Fund returned 17.20% while its Global Strategy Fund was up 9.20%. Meanwhile, Systematic Investments’ BlueTrend Fund returned 9.53%.

Alternatively, legendary managers who saw their funds underperform last month included Two Sigma Investments, Paulson & Co. and Elm Ridge Capital Management, according to the HSBC data. Two Sigma’s Compass Cayman Fund returned -8.41%, Paulsons’ Special Situations Funds generated -7.09% and Elm Ridge Capital Partners returned -6.40%. 

The overall hedge fund industry was relatively flat last month, generating a return of 0.05%, according to the Barclay Hedge Fund Index.

Top Performers – So Far

A couple of CTA/macro-focused strategies have been the top performers for the year through nearly the first half of February. The HSBC data revealed that Conquest Capital Group’s Macro Fund is up 10.76% year-to-date through February 11 while R.G. Niederhoffer Capital Management’s Diversified Offshore Fund is up 9.41% during that same time period.