Some hedge funds deliver double-digit gains for 2017

From Reuters - January 4, 2018

BOSTON (Reuters) - A handful of hedge funds ended 2017 with double digit returns, their investors said, at a time the $3 trillion industry took in fresh money and posted its best returns in years, industry data show.

Activist hedge fund Marcato Capital Management, which waged proxy fights at Buffalo Wild Wings and Deckers Outdoor Corp. last year, ended 2017 with a 25.6 percent gain at its flagship fund while its smaller Encore portfolio climbed 22.6 percent.

Atlantic Investment Management, which focuses on bets that inexpensive stocks will appreciate in value, posted a 16.4 percent gain in its Cambrian Global Fund.

Both firms beat the industry average with industry tracking firm Hedge Fund Research reporting that the average hedge fund gained 7.6 percent through the end of November.

Stock oriented funds posted a 12 percent gain through November. December numbers have not been released as many hedge funds are still tabulating their performance for the year, but so far the industry is on track to post its best returns since 2013, the Hedge Fund Research data show.

Similarly Renaissance Technologies, staffed by nearly eight dozen scientists with doctorates in physics, math and other fields, posted a 15 percent gain in its Renaissance Institutional Equities fund, the firms oldest portfolio available to outsiders.


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