Caxton’s Law

Following the recent retirement of its legendary founder, Bruce Kovner, Caxton Associates is embarking on a new era under Andrew Law, his handpicked successor. READ FULL STORY

Profiles: Hedge Fund Managers

  • Out of the shadows

    King Street has kept a famously low profile since its launch, but after its posting lackluster returns for two years and building up a large pile of cash, investors may want the firm’s founders to start talking.

  • William Browder’s war

    Reeling from the death of his lawyer in Russia, Hermitage founder William Browder is campaigning for justice — while working to reinvent himself as a global investor.

  • Medicine man

    Oncologist-turned-fund manager Patrick Welton tweaked his methods to win institutional clients and now expects the changes to see him through a rough patch.

  • Decoding BlackRock’s Black Box

    After a string of acquisitions created a $113 billion alternatives powerhouse, the intensely secretive firm is emerging from the shadows

  • Mike Masters: The making of a maverick

    Mike Masters operates outside the hedge fund establishment, but his idiosyncratic style suits his investors just fine.


Profiles: Hedge Fund Investors

  • Kentucky Waltz

    The state retirement system’s new CIO, T.J. Carlson, is out to jump-start his predecessor’s hedge fund allocation.

  • Custom fit

    With Citigroup’s private bank focusing on ultrawealthy investors, consultationis in and one-size-fits-all is out.

  • Flying Dutchman

    An Amsterdam pension services outfit is blazing a trail with its innovative investments in U.S. hedge funds.

  • Small is Beautiful

    CIO Peter Gilbert finds a $1 billion endowment can exploit opportunities denied to bigger funds, such as his former employer, the Pennsylvania State Employees’ Retirement System.

  • Where the money is

    J.P. Morgan’s private bankers court hedge fund managers


Strategies


Research and Rankings

  • More money, more problems

    New hedge funds that launched in 2011 pulled in $19.96 billion, a big jump over the previous year. But getting off the ground is tougher than ever.

  • Five to watch

    Flexibility and a focus on niche strategies have powered these five young funds to stellar returns despite the market’s volatility

  • Billion Dollar Club

    The largest 241 American hedge fund firms gain $102 billion in the first half of 2011, for a total of $1.399 trillion. Bridgewater Associates maintains its number one spot with $70.30 billion

  • Hedge fund report card

    Investors now prize performance over liquidity and transparency—and managers who made the big bucks have shot up in the rankings


Hedge Fund Philanthropy


Absolute Return Indices December 2011

Composite
Index Composite
ARDec 11YTD%
Composite0.08%-0.47%100%
Commodities-0.06%3.10%100%
Convertible & Equity Arbitrage0.32%1.73%100%
Credit0.51%2.17%100%
Distressed-0.12%-2.15%100%
Event Driven0.20%-5.21%100%
Fixed Income0.41%6.17%100%
Global Equity-1.00%-4.70%100%
Latin American Debt-1.68%-1.94%100%
Latin American Equity-0.51%1.07%100%
Macro0.28%1.07%100%
Managed Futures0.10%-2.98%100%
Mixed Arbitrage0.48%3.88%100%
Mortgage Backed Securities0.31%0.47%100%
Multi-Strategy-0.14%0.82%100%
Technology0.79%3.78%100%
U.S. Equity-0.12%-2.09%100%

* Estimate

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