We have the QTD and YTD returns (until December 4th ) for a number of hedge funds across multiple strategies, lets take a look:
(Lyxor Platform follows several funds, however the returns mentioned as worst or best in this article could be only from those hedge funds that are actively followed at ValueWalk)
Commodity Trading Advisors
Li Lu’s Four Basic Principles of Value Investing
Li Lu is undoubtedly one of the most under-appreciated investors. The founder and Chairman of Himalaya Capital Management established his firm in 1997 based on the principles laid out by Benjamin Graham. Lu is a close friend of Charlie Munger and was once thought to be in-line to succeed Warren Buffett as the chief investment Read More
Lyxor Cta Long Term Tracker is down -7 percent YTD. Some of the worst performing yearly returns were Brevan Howard Systematic Trading Fund’s -7 percent (QTD -5.20) and Aspect Diversified’s -12.38 percent (QTD -5.82). Tudor Momentum and Winton Capital are also down -6.5 and 4.66 percent respectively. Caxton Hawk and Amplitude Fund are up 0.20 and 0.07 percent YTD and these are the only returns that have managed to shake off losses. BAML’s hedge fund monitor also reports CTA as one of the worst performing strategies of this year.
Event Driven & Risk Arbitrage
The best number in the category is the brilliant return of JANA Partners Fund’s 20.39 percent YTD, the fund is up 2.29 percent for the quarter. Man Group PLC (LON:EMG)’s subsidiary GLG Partners Credit Opportunity Fund is up 14.18 percent for the year (QTD 1.67 percent). Third Point Fund is up 10 percent (QTD 3.56 percent), Canyon Value Realization Fund is up 8.11 percent (QTD -0.15), Twin Offshore up 11.34, and York Fund is up 5.31 percent (QTD 2.29 percent).
The worst performers were Paulson Gold Fund, down-29.66 for the year, notably the fund returned 7 and 10 percent monthly in August and September, however the fund is down -21.5 percent in Q4. Paulson Advantage Fund is down -18.91 percent YTD.
Fixed Income Arbitrage
Lyxor Fixed Income Arbitrage Tracker index is up 10 percent in the year. The best performing funds have been Ellington Fund’s 13 percent return and Pramerica Relative Value Fund is up 5.64 percent YTD. Concordia G10 Fixed Income Relative Value Fund is down -3.16 percent YTD.
Ray Dalio’s Bridgewater Fund is up 2.20 percent YTD and down -0.64 percent for the quarter so far. GAM Global Rates Hedge Fund is up 16 percent for the year, while Traxis EM Opportunities Fund is up 9.26 percent. TT International’s TT Fund is up 1.70 percent for the year.
Long/Short Credit Arbitrage
Lyxor’s L/S Credit Arbitrage index is up 9 percent YTD.
BlackRock, Inc. (NYSE:BLK) European Strategies up 6 percent, Henderson Group Plc (LON:HGG) (ASX:HGG) Credit Fund up 6.35 percent, and Advent Global Opportunity Fund is up 3.86 percent in the year. The highest returns are from Income Partners Asian Credit and Andromeda Global Credit Fund, which are up almost 14 percent each.
Omega Advisors’s Odyssey Value fund is up 15.28 percent for the year (QTD -0.63 percent), GMT Capital’s Bay Resource Partners Offshore Fund is up 6.74 percent, GLG European Opportunity is up 7.17 percent, Marshall Wace European Fund is up 11 percent, and Visium Institutional Partners is up 4 percent for the year. Sprott Offshore Fund is down 31 percent, while Northwood European Fund is down 10 percent in the year.
In Multi Strategy funds, AQR Systematic Total Return is up 3 percent, while Weiss Multi Strategy Fund is up 2.77 percent.