SAC Capital, Jana Partners Lead As Hedge Funds Gain 2% In Q1


Hedge funds gained 2 percent in the first quarter of fiscal 2013, less than the worldwide stock markets returns that rose as a result of the Cyprus deal and renewed recovery in the United States Economy.

SAC Capital, Jana Partners Lead As Hedge Funds Gain 2% In Q1

There was an escalation of less than 0.1 percent in the funds last month, according to data from Bloomberg, fueled by the firms like SAC Capital Advisor in Stamford and Jana Partners who had profitable growth in March. Long-short equity and macro hedge funds also increased last month, but there was a decline recorded in the multi strategy managers.

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The global equity markets increased by as much as 6 percent in the first quarter; the returns were backed by a strong performance in U.S. the housing market and also a last minute deal to save the Cyprus economy, which was on the verge of fall received a bailout.

John Paulson, the hedge fund manager, garnered profits in almost all the funds he held in March. The  Bloomberg Funds Aggregate Index increased by about 4.3 percent, which tracks 2,635 funds, 1,253 of which have reported returns for March and is weighted by market capitalization.

Performance of Funds

The Long short strategy increased 3.7 percent this year after recording a decline of 0.1 percent in March. Multi-strategy funds were down 0.5 percent in 2013 and 1.2 percent last month. Macro funds increased 0.9 percent in the last quarter and declined 0.3 percent in March.

SAC Caital International, a $15 billion firm and headed by Steven Cohen’s, increased 4.5 percent this fiscal quarter and 1 percent last month. Currently there is a probe going on regarding multi-year federal insider trading investigation.

The Jana Partners fund also increased 6.1 percent this year and 1.5 percent in March. The firm, which is worth $4.9 billion, generated returns of 8.9 percent year to date and 2.3 percent in the last month.

Passport Global fund increased 5.9 percent in 2013 and 2.3 percent in March. The firm is worth $3.7 billion and is based in San Francisco. It is headed by John Burbank, who’s interest was reflected in the Direct Foreign Investments in Saudi Stocks. He said that there could be an inflow of around $30 billion if FDI is allowed in Saudi Stocks.

The Passport Long Short fund, which is worth $352 million, increased 6.8 percent year to date and 3 percent last month year through March 15 in its Renaissance Institutional Diversified Alpha Fund. The fund increased 1.4 percent in the first two weeks of last month according to a source.

Renaissance Technologies, the $22 billion fund started by Jim Simons reported a 6.6 percent rise this year till March 15. For the first two weeks of last month, the New York based firms Renaissance Institutional Diversified Alpha Fund gained 1.4 percent.