Reuters reports that in tough times, small hedge funds
appear to have bested many of their bigger competitors. As the industry digests
another year of largely mediocre hedge fund returns, especially at many of the
largest players, some investors are beginning to turn their sights toward
smaller newcomers to deliver the kind of double-digit returns that made the industry
famous.
Year-end performance numbers for 2012 are revealing a good
number of industry stalwarts like Alan Howard's $34 billion Brevan Howard and
David Einhorn's $8 billion Greenlight Capital fund that posted just single
digit returns. John Paulson, another industry legend, had a mixed year with
single digit gains in two funds, double digit gains in the Paulson Enhanced
fund but double digit losses in the Advantage funds.
Overall, the average hedge fund in the $2 trillion industry
gained just 6 percent, well below the 13 percent gain for the broader U.S. stock
market…..
Find out more at http://www.reuters.com/article/2013/01/17/us-hedgefunds-newcomers-idUSBRE90G13620130117
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