Posted by Sam Jones on Sep 30 17:05. Comment | Share
Out from AR magazine just moments ago is their annual ranking of the biggest hedge fund managers in the US. Unsurprisingly, Bridgewater is still number one. Surprisingly, it has increased its lead by a significant margin.
The firm now manages a titanic $50.9bn according to AR. Its nearest rival is JP Morgan – the bank – which manages around $41.1bn in hedge funds connected to its Highbridge business.
The nearest independent contender is Paulson & Co, with an estimated $31bn AUM. This year has hardly been kind on the firm, though after its spectacular 2008 and 2009, few would doubt its deserved place at the top table. Though September is supposed to have been good for Paulson, as of August 31 the Paulson Advantage and Advantage Plus funds were down 7.54% and 11.16% respectively.
Bridgewater has meanwhile seen its flagship Pure Alpha II fund return 16.74 per cent since January. In market conditions such as these, Bridgewater is deserving of praise. (The sylvan Connecticut-based firm is as cultish publicity-shy as it is successful, but according to investors, Bridgewater was a major beneficiary from the eurozone crisis).
The only other surprise is the – relative – fall from grace of DE Shaw, which according to AR manages just $17.8bn as of July 1 (we understand the number has since increased). Little wonder the firm is slashing jobs.
Related links:
www.ft.com/hedgefunds
www.twitter.com/samgadjones
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