Not every hedge fund manager is weeping over the truly sucky market rout that has taken hold of global stocks this month. Some are doing quite well by it, according to Finalternartives.
Among the larger funds not joining the summer swoon is Och-Ziff Capital Management. The New York-based firm, which manages some $30 billion, rose 1% last week, Bloomberg News reports. The firm's flagship macro fund is up 1.2% this year. Och-Ziff gobbled up billions in options during the first quarter, which has helped it ride out, and even profit, from the volatile markets.
On the other side of the world, things look even better. Singapore-based Vulpes Investment Management, founded by former Artradis Capital Management chief Stephen Diggle in May, is riding out its first market crisis nicely, adding 4% in the first six trading days of the month, Reuters reports. Fellow Asian hedge fund Tantallon Capital did as well or better, rising 4.15% last week…
Less than one-third of the way through August, it's already clear that some hedge funds will be chalking the month up as a lost one.
Paulson & Co.'s troubles are already well-known, with the firm's flagship hedge fund down more than 25% on the year after losing another 10% last week. But the New York-based firm, which managed nearly $40 billion before the sell-off, will survive. For other funds, August will be more than a lost month: It will be their last..
Many larger hedge funds may be facing double-digit losses on the month. Pershing Square Capital Management and Greenlight Capital have seen some of their largest holdings, among them the financial stocks taking a historic beating this month, hard hit.
Other top hedge funds are also down, although not catastrophically. SAC Capital Advisors, for one, is down 4% this month, while the Standard & Poor's 500 Index has dropped more than 9%. SAC remains up 6% on the year,,,
There’s more. Much more. Read all about it at http://www.finalternatives.com/node/17697
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