Hedge funds overall lost 2.3% in August - a poor month by their own standards - but this average figure for the $2trn industry masks eye-watering numbers some individual managers are now posting to data providers.
Hedge funds overall lost 2.3% in August – a poor month by their own standards – but this average figure for the $2trn industry masks eye-watering numbers some individual managers are now posting to data providers.
Computer-driven strategies was one area that bucked the industry’s losing trend, by making 0.2%, according to database BarclayHedge.
Figures today from another US-based monitor, Institutional Advisory Services Group, revealed just how far some winning funds avoided losses and made gains instead.
Top the pile was Opti Global Macro fund, from FSA- and FINRA-authorised American manager Opto Global Macro LLC. It gained 77.7% for the month and is up 84.1% this year – making it also the top performer year to date on IASG’s list.
Last month double digit gains – of between 59% and 10.4% – also came from Stratford Capital Management, Kinkopf Capital Management, Superfund Group, Purple Valley Capital, Siwtzerland’s Rho Asset Management and Altradis Capital, Chadwick Investment Group, Neural Capital, Insignia Futures & Options, and Dunn Capital Management.
Estlander & Partners’ Alpha Trend II Class P made 9.5%.
The Klassik and Sinfonie funds of Amplitude Capital, Karsten Schroeder’s outfit that moved from London to Switzerland in 2008, have also performed well, by making 11.2% and 8.7% respectively last month.
Those looking over a longer time period will have to search beyond Europe for the best fund, however, to Australia’s Non Correlated Capital. It made 323% over three years, although it has given back 7% this year.
For impressive five-year returns, 24FX Management, founded in Cannes by private partners of a global family office, has made 390.5%, according to IASG.
One potential difficulty getting access to some of the best hedge funds of last month could be their size.
Many are sub-$10m – the one-year old Opto Global Macro, for example, has $1.4m, whereas Non Correlated Capital’s fund is listed as having just $1.2m.