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2015 Preqin Global Hedge Fund Report

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2015 Preqin Global
Hedge Fund
Report
Top Performing
Funds
alternative assets. intelligent data.
The 2015 Preqin Global Hedge Fund Report - Top Performing Funds
2015 Preqin Global Hedge Fund Report Top Performing Funds
This excerpt from the 2015 Preqin Global Hedge Fund Report contains all the league tables of the top performing hedge funds
in 2014, which were compiled using data taken from our Hedge Fund Analyst online service.
Covering a wide range of topics, with expert commentary, key trends from recent years, historical statistics, league tables and
survey results, the 124-page 2015 Preqin Global Hedge Fund Report is an essential tool for anyone seeking to understand
the latest developments affecting the industry.
For more information about the full 2015 Preqin Global Hedge Fund Report, please visit: www.preqin.com/ghfr
Methodology
The top performing funds presented in this report are based on a ranking by net returns over the periods 2014 and 2012-2014.
The tables (Figs. 7-38) are based on data reported to Preqin in early January 2015 and include preliminary data for December
2014. Unless otherwise stated, the information in Figs. 1-6 reflects the characteristics of the funds appearing in all tables in
this report for the given time period (2014 or 2012-2014). Although fund rankings are not expected to alter significantly, final
performance tables are subject to change.
Contents
Overview of Top Performing Funds in 2014
3
Top Performing Funds in 2014 by Strategy
4
Top Performing Funds in 2014 by Region
9
Top Performing Funds, January 2012 - December 2014
10
The 2015 Preqin Global Hedge Fund Report
The 2015 Preqin Global Hedge Fund Report is the most comprehensive review of the hedge fund industry ever undertaken.
Assembled by our dedicated teams of multilingual analysts based around the world, the 124-page 2015 Global Hedge Fund
Report includes all the most important developments alongside historical data, enabling you to put recent trends into context.
This year's Report includes:
•
•
•
•
•
•
•
•
•
•
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Industry overview
Commentary from key industry bodies and figures
Performance in 2014
Comprehensive statistics for the hedge fund industry by strategy
Terms and conditions
Institutional and private wealth investors
Investment consultants
CTAs
Funds of hedge funds
Liquid alternatives
Service providers
For more information, to view sample pages or to purchase your copy, please visit:
2015 Preqin Global
Hedge Fund
Report
ISBN: 978-1-907012-78-5
$175 / £95 / €115
www.preqin.com
alternative assets. intelligent data.
www.preqin.com/ghfr
2
© 2015 Preqin Ltd. / www.preqin.com
The 2015 Preqin Global Hedge Fund Report - Top Performing Funds
Overview of Top Performing
Funds in 2014
Fig. 1: Breakdown of Top 20 Hedge Funds in 2014 by Core
Strategy
Fig. 2: Top Performing Funds in 2014 by Manager
Location
Rest of World,
10%
Equity Strategies
5%
5%
Relative Value
Strategies
5%
10%
New York, 13%
Asia-Pacific, 17%
Canada, 4%
Macro Strategies
California, 3%
Illinois, 3%
North America,
42%
Event Driven Strategies
Connecticut, 3%
Europe, 32%
75%
Other US States,
13%
Multi-Strategy
Cayman Islands,
1%
Source: Preqin Hedge Fund Analyst
Fig. 3: Inception Date of Top Performing Funds in 2014
18%
Equity Strategies
186.12
Macro Strategies
39.33
Relative Value Strategies
29.16
2%
Multi-Strategy
23.54
2007
Proportion of Funds
17%
16%
16%
Source: Preqin Hedge Fund Analyst
Fig. 4: Dispersion of Returns in 2014 of Top Ten Performers
in Each Strategy
Event Driven Strategies
22.85
Credit Strategies
12.07
14%
12%
12%
12%
11%
11%
10%
8%
6%
6%
6%
4%
4%
4%
2%
January 2014
2013
2012
2011
2010
2009
2008
2006
2000-2005
Before 2000
0%
Inception Date
Dispersion (Percentage Points)
Source: Preqin Hedge Fund Analyst
Fig. 5: Median Returns of Top Performers in 2014 vs. Top
Performers over the Last Three Years
Source: Preqin Hedge Fund Analyst
Fig. 6: Risk-Return Profile of Top 10 Hedge Funds in 2014
vs. Top 10 Hedge Funds over the Last Three Years
140%
59.03%
51.73%
Macro Strategies
17.38%
17.75%
Event Driven Strategies
Three-Year Annualized Returns
Equity Strategies
26.55%
27.48%
15.48%
16.23%
Credit Strategies
Relative Value Strategies
21.72%
22.76%
Multi-Strategy
22.46%
17.12%
0%
10%
20%
30%
40%
50%
Top
Performers in
2014
120%
100%
Top
Performers,
2012-2014
80%
60%
Top
Performers in
Both 2014 &
2012-14
40%
20%
60%
0%
Median Returns of Top Performing Funds
2014 Return
Annualized Return, 2012-2014
Source: Preqin Hedge Fund Analyst
0%
20%
40%
60%
80%
Three-Year Volatility
Source: Preqin Hedge Fund Analyst
3
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The 2015 Preqin Global Hedge Fund Report - Top Performing Funds
Top Performing Funds in 2014
By Strategy
Fig. 7: All Strategies - Net Returns of Top Performing Hedge Funds in 2014
Fund
Passage to India Opportunity Fund (Cayman) - A
Shares
venBio Select Fund LLC
Quan Technology Fund
Midlothian Capital - Ordinary
Alchemy India Long-Term Fund
Merchant Commodity Fund
Redart Focus Fund
Rhenman Healthcare Equity Long Short Fund RC2 SEK
Capra Capital Fund
JC Clark Adaly Fund - Class D Master Series
Polar Star Fund (ZAR)
ArthVeda Alpha India L50
Diamond A Partners
AFC Asia Frontier Fund - CHF-A
Chinook II Fund
GH China Century Fund
Venator Select Fund
CITIC China Alpha II Fund Ltd
Okumus Opportunistic Value Fund - Class C
Silverdale India Equity Fund - Class G
Manager
Core Strategy
Net Return in
2014 (%)
Arcstone Capital
Long Bias, Value-Oriented
225.21
venBio
Quan Ventures
Midlothian Capital Investments
Alchemy Investment Management
RCMA Asset Management
Redart Capital
Rhenman & Partners Asset
Management
Capra Capital
JC Clark
Polar Star Management
ArthVeda Fund Management
Lawndale Capital Management
Asia Frontier Capital
Alee Capital Management
LyGH Capital
Venator Capital Management
CITIC Securities International Fund
Management
Okumus Fund Management
Silverdale Capital
Long/Short Equity, SectorFocused
Long/Short Equity
Long/Short Equity
Long/Short Equity
Commodities
Long/Short Equity, ValueOriented
70.96
66.91
60.60
59.29
Long/Short Equity
50.67
Value-Oriented
Long/Short Equity
Relative Value Arbitrage
Long Bias
Event Driven, Value-Oriented
Long Bias
Managed Futures/CTA, MultiStrategy
Long/Short Equity
Long/Short Equity
50.67
48.65
39.89
39.09
38.00
37.58
Long/Short Equity
35.88
Long Bias
Long Bias
34.50
34.42
73.54
57.45
37.19
36.57
36.47
Source: Preqin Hedge Fund Analyst
Fig. 8: Equity Strategies - Net Returns of Top Performing Funds in 2014
Fund
Passage to India Opportunity Fund (Cayman) - A
Shares
venBio Select Fund LLC
Quan Technology Fund
Midlothian Capital - Ordinary
Alchemy India Long-Term Fund
Redart Focus Fund
Rhenman Healthcare Equity Long Short Fund RC2 SEK
Capra Capital Fund
JC Clark Adaly Fund - Class D Master Series
ArthVeda Alpha India L50
Manager
Core Strategy
Net Return in
2014 (%)
Arcstone Capital
Long Bias, Value-Oriented
225.21
venBio
Quan Ventures
Midlothian Capital Investments
Alchemy Investment Management
Redart Capital
Long/Short Equity, SectorFocused
Long/Short Equity
Long/Short Equity
Long/Short Equity
Long/Short Equity, ValueOriented
70.96
66.91
60.60
Long/Short Equity
50.67
Value-Oriented
Long/Short Equity
Long Bias
50.67
48.65
39.09
Rhenman & Partners Asset
Management
Capra Capital
JC Clark
ArthVeda Fund Management
73.54
57.45
Source: Preqin Hedge Fund Analyst
Data Source:
Preqin’s Hedge Fund Analyst features customizable league tables of the top performing hedge funds, which can be filtered by core
strategy and structure, with league tables available for a variety of time periods.
For more information, or to arrange a demonstration, please visit: www.preqin.com/hfa
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© 2015 Preqin Ltd. / www.preqin.com
The 2015 Preqin Global Hedge Fund Report - Top Performing Funds
Fig. 9: Macro Strategies - Net Returns of Top Performing Funds in 2014
Fund
Merchant Commodity Fund
Sirocco II Fund
Quantedge Global Fund
Bretton Woods II Global/Macro Emerging
Markets Fund LP
Orthogonal Financial Global Macro Fund Class B
Crescat Global Macro Fund
BiscayneAmericas Fortaleza Fund
Kijani Commodity Fund - USD Class
ADG Systematic Macro Fund
Sparta Global Funds SPC - Class B
Manager
Core Strategy
RCMA Asset Management
Alee Capital Management
Quantedge Capital
Commodities
Macro, Managed Futures/CTA
Macro
Net Return in
2014 (%)
59.29
32.02
29.37
Cabezon Investment Group
Macro
28.58
Orthogonal Financial
Macro
27.27
Crescat Capital
BiscayneAmericas Advisers
Straffan Asset Management
ADG Capital Management
Sparta Administradora de
Recursos
Macro
Macro
Commodities
Macro
25.83
22.75
21.42
20.15
Macro
19.96
Source: Preqin Hedge Fund Analyst
Fig. 10: Event Driven Strategies - Net Returns of Top Performing Funds in 2014
Fund
Diamond A Partners
SECOR Alpha Fund, LP
Corfiser Simi Fund
SQF
Primevestfund - F
Context BH Partners - Founders' Class
Sandon Capital Activist Fund
Trishield Special Situations Fund
Pyrrho Global Event Driven Fund
Hillair Capital Investments
Manager
Core Strategy
Lawndale Capital Management
SECOR Asset Management
Finser International Corporation
Quant Investment Management
Primevest Capital Corp
Context Capital Partners
Sandon Capital
Trishield Capital Management
Pyrrho Capital Management
Hillair Capital
Event Driven, Value-Oriented
Opportunistic
Event Driven
Event Driven
Special Situations
Event Driven
Event Driven
Distressed
Event Driven
Event Driven
Net Return in
2014 (%)
38.00
30.77
23.93
21.46
18.90
16.59
16.54
15.66
15.37
15.15
Source: Preqin Hedge Fund Analyst
Fig. 11: Credit Strategies Funds - Net Returns of Top Performing in 2014
Fund
STS Partners Fund
SPM MBS Agency Fund
Goodwood Milford Fund - Class S Q1
CSS Alpha Fund - Class A GBP
Maritime Capital Partners
SPM Core
Capitania Index Credito Privado FIC FIRF
LDR Preferred Income Fund - Class A
AcuityOne Hedge Fund
Candlewood Structured Credit Harvest Fund, LP
Manager
Deer Park Road
Structured Portfolio Management
Goodwood
Charles Street Securities Europe
Maritime Capital
Structured Portfolio Management
Capitania
LDR Capital Management
Acumen Capital
Candlewood Investment Group
Core Strategy
Asset-Backed Lending
Strategies, Mortgage-Backed
Strategies
Mortgage-Backed Strategies
Long/Short Credit, Long/Short
Equity
Long/Short Credit
Fixed Income
Mortgage-Backed Strategies
Asset-Backed Lending
Strategies
Fixed Income
Fixed Income
Long/Short Credit
Net Return in
2014 (%)
26.09
23.88
18.50
16.32
15.62
15.34
14.67
14.60
14.19
14.02
Source: Preqin Hedge Fund Analyst
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The 2015 Preqin Global Hedge Fund Report - Top Performing Funds
Fig. 12: Relative Value Strategies - Net Returns of Top Performing Funds in 2014
Fund
Polar Star Fund (ZAR)
Japan Synthetic Warrant Fund - JPY Class
Saemor Europe Alpha Fund - Share Class - B
Colombard Fund, LP
Kevlon Fund
Ellerston Australian Market Neutral Fund
Resolution of Japan Fund - JPY-S Class
Akito Fund - JPY Class A Series 1
Barnegat Fund - Series B
Malachite Capital Partners
Manager
Core Strategy
Polar Star Management
Stratton Street Capital
Saemor Capital
Alambic Investment Management
Bonita Capital Management
Ellerston Capital
Epic Partners Investments
ACG Management
Barnegat Fund Management
Malachite Capital Management
Relative Value Arbitrage
Convertible Arbitrage
Equity Market Neutral
Equity Market Neutral
Equity Market Neutral
Relative Value Arbitrage
Equity Market Neutral
Equity Market Neutral
Fixed Income Arbitrage
Statistical Arbitrage
Net Return in
2014 (%)
39.89
27.99
27.28
24.77
18.66
16.82
16.75
16.53
16.35
14.49
Source: Preqin Hedge Fund Analyst
Fig. 13: Multi-Strategy - Net Returns of Top Performing Funds in 2014
Fund
Chinook II Fund
Pine River China Fund
YA Global Investments II
Asia Opportunities Fund
Tradelink Master Fund
Kaizen Strategic Opportunities Fund
The Campbell Global Assets Fund Limited SPC - The
Multi-Strategy Segregated Portfolio
Winton Futures Fund Ltd - D Class GBP
Solon Alpha Fund 1
Sparta Dinâmico FIM
Manager
Core Strategy
Alee Capital Management
Pine River Capital Management
Yorkville Advisors
Black Crane Capital
TradeLink Capital
Kaizen Asset Management
Multi-Strategy
Multi-Strategy
Multi-Strategy
Multi-Strategy
Multi-Strategy
Multi-Strategy
Net Return in
2014 (%)
37.19
29.66
28.93
25.53
22.81
22.10
Campbell & Company, LP
Multi-Strategy
14.36
Winton Capital Management
Shanghai Solon Investment
Sparta Administradora de
Recursos
Diversified
Multi-Strategy
14.26
13.73
Multi-Strategy
13.65
Source: Preqin Hedge Fund Analyst
Fig. 14: Activist Hedge Funds- Net Returns of Top Performing Funds in 2014
Fund
Diamond A Partners
Pure Heart Natural Selection Fund
Primevestfund - F
Pinpoint China Fund - Class A
PCJ Absolute Return Fund
Manager
Core Strategy
Lawndale Capital Management
Pureheart Capital Asia
Primevest Capital Corp
Pinpoint Asset Management
Connor, Clark & Lunn Investment
Management
Event Driven, Value-Oriented
Long/Short Equity
Special Situations
Long/Short Equity
Net Return in
2014 (%)
38.00
27.46
18.90
17.49
Long/Short Equity
17.32
Source: Preqin Hedge Fund Analyst
Fig. 15: Volatility Trading Funds - Net Returns of Top Performing Funds in 2014
Fund
Tradelink Master Fund
CSS Alpha Fund - Class A GBP
Malachite Capital Partners
Dominice US Equities Plus - Class A
Ebullio FED Commodity Fund - USD
Manager
Core Strategy
TradeLink Capital
Charles Street Securities Europe
Malachite Capital Management
Dominice & Co.
Ebullio Capital Management
Multi-Strategy
Long/Short Credit
Statistical Arbitrage
Long/Short Equity
Commodities
Net Return in
2014 (%)
22.81
16.32
14.49
13.34
13.22
Source: Preqin Hedge Fund Analyst
6
© 2015 Preqin Ltd. / www.preqin.com
The 2015 Preqin Global Hedge Fund Report - Top Performing Funds
Fig. 16: Discretionary Trading Hedge Funds Net Returns of Top Performing Funds in 2014
Fund
Passage to India Opportunity Fund (Cayman) - A
Shares
Midlothian Capital - Ordinary
Merchant Commodity Fund
Rhenman Healthcare Equity Long Short Fund - RC2
SEK
JC Clark Adaly Fund - Class D Master Series
Manager
Core Strategy
Net Return in
2014 (%)
Arcstone Capital
Long Bias, Value-Oriented
225.21
Midlothian Capital Investments
RCMA Asset Management
Rhenman & Partners Asset
Management
JC Clark
Long/Short Equity
Commodities
66.91
59.29
Long/Short Equity
50.67
Long/Short Equity
48.65
Source: Preqin Hedge Fund Analyst
Fig. 17: Systematic Trading Hedge Funds - Net Returns of Top Performing Funds in 2014
Fund
Orthogonal Financial Global Macro Fund - Class B
Aphilion SIF
Colombard Fund, LP
SQF
ADG Systematic Macro Fund
Manager
Core Strategy
Orthogonal Financial
Macro
Equity Market Neutral, Long/
Short Equity
Equity Market Neutral
Event Driven
Macro
Aphilion
Alambic Investment Management
Quant Investment Management
ADG Capital Management
Net Return in
2014 (%)
27.27
27.14
24.77
21.46
20.15
Source: Preqin Hedge Fund Analyst
Fig. 18: Single-Strategy Funds of Funds - Net Returns of Top Performing Funds in 2014
Fund
DUNN Insurance Dedicated Futures Fund
ACL Alternative Fund - USD Class A
ACL Global Fund Ltd
Agenta Global Equity
Gourishankar
Quantium Global Fund
Xenon Liquid Fund - USD Class
Agenta Swedish Equity
Crown Managed Futures - Class F EUR
Crown Managed Futures UCITS - Class D GBP
Manager
Core Strategy
Dunn Capital Management
Abbey Capital
Abbey Capital
Agenta Investment Management
Hallenborg & Sandström Fund
Management
Quantium Capital
ISPartners
Agenta Investment Management
LGT Capital Partners
LGT Capital Partners
Managed Futures/CTA
Managed Futures/CTA
Managed Futures/CTA
Long/Short Equity
Net Return in
2014 (%)
34.11
31.58
26.30
26.24
Managed Futures/CTA
26.04
Macro
Managed Futures/CTA
Long/Short Equity
Managed Futures/CTA
Managed Futures/CTA
23.88
20.35
17.77
16.69
15.39
Source: Preqin Hedge Fund Analyst
Fig. 19: Multi-Strategy Funds of Funds - Net Returns of Top Performing Funds in 2014
Fund
Atrevida Multi-Strategy Charter Fund - Class D –
Series 2 (RMBS Opportunity)
FondSelect Global
Emerging Markets
BTG Pactual PAR Plus
Shaked Opportunity Fund
Areca Value Discovery Fund - B USD
Graal Total 2xL
Commonfund Diversifying Hedge Strategies Company
Qualitium - Class I USD
Walbert Fund of Funds I
Manager
Core Strategy
Net Return in
2014 (%)
Atrevida Partners
Multi-Strategy
3806.30
Aktie Ansvar
Agenta Investment Management
BTG Pactual
Shaked Capital Advisors
Ayaltis
Aktie Ansvar
Commonfund Hedge Fund
Strategies Group
Progressive Capital Partners
Walbert Capital Management
Multi-Strategy
Multi-Strategy
Multi-Strategy
Multi-Strategy
Multi-Strategy
Multi-Strategy
20.25
19.91
18.20
14.83
12.23
12.18
Multi-Strategy
10.37
Multi-Strategy
Multi-Strategy
10.02
9.95
Source: Preqin Hedge Fund Analyst
7
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The 2015 Preqin Global Hedge Fund Report - Top Performing Funds
Fig. 20: CTAs - Net Returns of Top Performing Funds in 2014
Fund
Martin Fund One
DeltaHedge Boote Program
IQS Futures Fund
Investment Program 1
Dreiss Research Global Diversified Program
Palm Trend Fund - K AUD
Mulvaney Global Markets Fund, Ltd. - USD
ISAM Systematic Master Fund - Class A (USD)
Man AHL Currency Fund
SMN Diversified Futures Fund
Manager
Manager Location
Martin Fund Management
DeltaHedge
IQS Capital Management
QQFund.com
Dreiss Research
Progressive Capital Partners
Mulvaney Capital Management
International Standard Asset
Management
Man Investments
SMN Investment Services
US
Italy
Barbados
US
US
Switzerland
UK
Net Return in
2014 (%)
234.52
91.72
91.19
87.01
85.89
76.48
67.38
UK
62.42
UK
Austria
57.94
57.29
Source: Preqin Hedge Fund Analyst
Fig. 21: UCITS Hedge Funds - Net Returns of Top Performing Funds in 2014
Fund
Montserrat Global Fund - B
SEB Asset Selection Opportunistic Fund - C (H-NOK)
Milltrust India Fund
GAM Star Discretionary FX - GBP
Sector Healthcare Value Fund - Class A NOK
Manager
Core Strategy
Auriga Investors
SEB Asset Management
Milltrust International
GAM
Sector Asset Management
Long/Short Equity
Macro
Long Bias
Foreign Exchange
Long Bias
Net Return in
2014 (%)
54.38
34.83
29.33
23.30
21.15
Source: Preqin Hedge Fund Analyst
Fig. 22: Alternative Mutual Funds - Net Returns of Top Performing Funds in 2014
Fund
Daman Fifth Fund
Biotechnology UltraSector ProFund - Investor Class
Health Care UltraSector ProFund - Investor Class
BlackRock Real Estate Securities Fund - Investor A
Touchstone Global Real Estate Fund - Institutional
Class
Manager
Core Strategy
Daman Investments
ProFund Advisors
ProFund Advisors
BlackRock Alternative Investors
Long Bias, Value-Oriented
Long/Short Equity
Long/Short Equity
Long/Short Equity
Net Return in
2014 (%)
231.95
45.20
36.83
31.18
Touchstone Investments
Long/Short Equity
30.37
Source: Preqin Hedge Fund Analyst
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The 2015 Preqin Global Hedge Fund Report - Top Performing Funds
Top Performing Funds in 2014
by Region
Fig. 23: North America-Based - Net Returns of Top Performing Funds in 2014
Fund
venBio Select Fund LLC
Midlothian Capital - Ordinary
JC Clark Adaly Fund - Class D Master Series
Diamond A Partners
Chinook II Fund
Manager
venBio
Midlothian Capital Investments
JC Clark
Lawndale Capital Management
Alee Capital Management
Core Strategy
Long/Short Equity, SectorFocused
Long/Short Equity
Long/Short Equity
Event Driven, Value-Oriented
Multi-Strategy
Net Return in
2014 (%)
73.54
66.91
48.65
38.00
37.19
Source: Preqin Hedge Fund Analyst
Fig. 24: Europe-Based - Net Returns of Top Performing Funds in 2014
Fund
Quan Technology Fund
Rhenman Healthcare Equity Long Short Fund - RC2
SEK
Camox Fund
Altavista Capital India Fund
Taiga Fund - Class A - NOK
Manager
Core Strategy
Quan Ventures
Rhenman & Partners Asset
Management
Cologny Advisors
Altavista Investment Management
Taiga Fund Management
Long/Short Equity
Net Return in
2014 (%)
70.96
Long/Short Equity
50.67
Long/Short Equity
Long/Short Equity
Long/Short Equity
33.10
30.89
29.96
Source: Preqin Hedge Fund Analyst
Fig. 25: Asia-Pacific-Based - Net Returns of Top Performing Funds in 2014
Fund
Alchemy India Long-Term Fund
Merchant Commodity Fund
Redart Focus Fund
ArthVeda Alpha India L50
AFC Asia Frontier Fund - CHF-A
Manager
Core Strategy
Alchemy Investment Management
RCMA Asset Management
Long/Short Equity
Commodities
Long/Short Equity, ValueOriented
Long Bias
Long Bias
Redart Capital
ArthVeda Fund Management
Asia Frontier Capital
Net Return in
2014 (%)
60.60
59.29
57.45
39.09
36.98
Source: Preqin Hedge Fund Analyst
Fig. 26: Rest of World-Based - Net Returns of Top Performing Funds in 2014
Fund
Passage to India Opportunity Fund (Cayman) - A
Shares
Capra Capital Fund
Polar Star Fund (ZAR)
Kaizen Strategic Opportunities Fund
Sparta Global Funds SPC - Class B
Manager
Core Strategy
Net Return in
2014 (%)
Arcstone Capital
Long Bias, Value-Oriented
225.21
Capra Capital
Polar Star Management
Kaizen Asset Management
Sparta Administradora de
Recursos
Value-Oriented
Relative Value Arbitrage
Multi-Strategy
50.67
39.89
22.10
Macro, Multi-Strategy
19.96
Source: Preqin Hedge Fund Analyst
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The 2015 Preqin Global Hedge Fund Report - Top Performing Funds
Top Performing Funds,
January 2012 - December 2014
Fig. 27: All Strategies - Net Returns of Top Performing Hedge Funds, January 2012 - December 2014
Fund
Japan Synthetic Warrant Fund - JPY Class
venBio Select Fund LLC
Passage to India Opportunity Fund (Cayman) - A
Shares
Loyola Capital Offshore Ltd
The Vilas Fund
SFP Value Realization Master Fund - USD A Class
Marlin Fund
Rhenman Healthcare Equity Long Short Fund RC2 SEK
Core Strategy
Stratton Street Capital
Convertible Arbitrage
Long/Short Equity, SectorFocused
venBio
Annualized Return,
2012-2014 (%)
133.90
67.01
Northwest Investment
Management
Long Bias
62.91
Avant Capital Management (HK)
Long/Short Equity, Special
Situations
60.41
Arcstone Capital
Long Bias, Value-Oriented
55.25
Loyola Capital Management
Vilas Capital Management
Symphony Financial Partners
Masters Capital Management
Rhenman & Partners Asset
Management
Long Bias
Long/Short Equity
Event Driven
Long/Short Equity
52.50
50.96
42.88
41.77
Long/Short Equity
40.28
Northwest Warrant Fund - USD
Avant Capital Eagle Fund - Class B
Manager
Source: Preqin Hedge Fund Analyst
Fig. 28: Equity Strategies - Net Returns of Top Performing Funds, January 2012 - December 2014
Manager
Core Strategy
Annualized Return,
2012-2014 (%)
venBio
Long/Short Equity, SectorFocused
67.01
Northwest Investment
Management
Long Bias
62.91
Avant Capital Management (HK)
Long/Short Equity, Special
Situations
60.41
Arcstone Capital
Long Bias, Value-Oriented
55.25
Loyola Capital Management
Vilas Capital Management
Masters Capital Management
Rhenman & Partners Asset
Management
Hayate Partners
Ogborne Capital Management
Long Bias
Long/Short Equity
Long/Short Equity
52.50
50.96
41.77
Long/Short Equity
40.28
Long/Short Equity
Long/Short Equity
38.61
36.33
Fund
venBio Select Fund LLC
Northwest Warrant Fund - USD
Avant Capital Eagle Fund - Class B
Passage to India Opportunity Fund (Cayman) - A
Shares
Loyola Capital Offshore Ltd
The Vilas Fund
Marlin Fund
Rhenman Healthcare Equity Long Short Fund RC2 SEK
Hayate Japan Equity Long-Short Fund
Ogborne Partners
Source: Preqin Hedge Fund Analyst
Fig. 29: Macro Strategies - Net Returns of Top Performing Funds, January 2012 - December 2014
Fund
Ebullio FED Commodity Fund - USD
Quantedge Global Fund
Merchant Commodity Fund
Kijani Commodity Fund - USD Class
Everest Capital Global, Ltd.*
Ventor Dollar Hedge Master Multimarket FI FUND
Brasil Capital FIC FIA
CSHG Verde
CSHG Verde 14
North Emerging Markets Fund - Class A USD
*As of January 2015, Everest Capital Global, Ltd. is now closed.
10
Manager
Core Strategy
Ebullio Capital Management
Quantedge Capital
RCMA Asset Management
Straffan Asset Management
Everest Capital
Ventor Investimentos
Brasil Capital
Verde Asset Management
Verde Asset Management
Commodities
Macro
Commodities
Commodities
Macro
Macro
Macro, Fixed Income
Macro
Macro
Fixed Income, Foreign
Exchange, Macro
North Asset Management
Annualized Return,
2012-2014 (%)
32.56
25.34
19.46
18.99
18.34
16.41
15.95
15.38
15.37
15.10
Source: Preqin Hedge Fund Analyst
© 2015 Preqin Ltd. / www.preqin.com
The 2015 Preqin Global Hedge Fund Report - Top Performing Funds
Fig. 30: Event Driven Strategies - Net Returns of Top Performing Funds, January 2012 - December 2014
Fund
SFP Value Realization Master Fund - USD A Class
Corfiser Simi Fund
Diamond A Partners
Trishield Special Situations Fund
Wall Street Capital Partners
ISP Helium Special Situations Fund - GBP
JLP Partners Master Fund
Hillair Capital Investments
RGM Value Opportunity Fund II
ECF Value Fund International
Manager
Core Strategy
Symphony Financial Partners
Finser International Corporation
Lawndale Capital Management
Trishield Capital Management
Wall Street Resource
Event Driven
Event Driven
Event Driven, Value-Oriented
Distressed
Special Situations
Event Driven, Special
Situations
Distressed
Event Driven
Event Driven, Long Bias
Event Driven
ISPartners
Phoenix Investment Adviser
Hillair Capital
RGM Capital
Gates Capital Management
Annualized Return,
2012-2014 (%)
42.88
37.55
32.33
29.31
28.59
26.36
22.84
21.16
18.25
18.12
Source: Preqin Hedge Fund Analyst
Fig. 31: Credit Strategies - Net Returns of Top Performing Funds, January 2012 - December 2014
Fund
PvB (CH) Asset-Backed Securities Fund - Class S
STS Partners Fund
AcuityOne Hedge Fund
Metacapital Mortgage Opportunities Master Fund
Pine River Fixed Income Master Fund
CCP Total Return Fund
Midgard Fixed Income Fund - EUR AA
Canyon Balanced Fund (Cayman) Ltd - Group B
Prosiris Global Opportunities Master Fund
Capital Four Credit Opportunities Fund - Class B
Manager
Pernet von Ballmoos
Deer Park Road
Acumen Capital
Metacapital Management
Pine River Capital Management
Cicero Capital Partners
PFA Asset Management
Canyon Partners
Prosiris Capital Management
Capital Four Management
Annualized Return,
2012-2014 (%)
Core Strategy
Asset-Backed Lending
Strategies
Asset-Backed Lending
Strategies, Mortgage-Backed
Strategies
Fixed Income
Mortgage-Backed Strategies
Long/Short Credit
Fixed Income
Long/Short Credit
Long Bias, Long/Short Credit
Long/Short Credit
Long/Short Credit
27.03
26.38
17.15
16.48
16.41
16.04
15.57
15.37
15.09
15.09
Source: Preqin Hedge Fund Analyst
Fig. 32: Relative Value Strategies - Net Returns of Top Performing Funds, January 2012 - December 2014
Fund
Japan Synthetic Warrant Fund - JPY Class
Polar Star Fund (ZAR)
Teak Hill Fund LP - USD Class A-1
Akito Fund - JPY Class B Series 1
Barnegat Fund - Series B
Fixed Income Strategies Fund - S
Parametrica Global Fund
Colombard Fund, LP
Atlantic SHARP
Resolution of Japan Fund - JPY-S Class
Manager
Core Strategy
Stratton Street Capital
Polar Star Management
Credit Capital Investments
ACG Management
Barnegat Fund Management
Danske Invest
Parametrica Management
Alambic Investment Management
Atlant Fonder
Epic Partners Investments
Convertible Arbitrage
Relative Value Arbitrage
Relative Value Arbitrage
Equity Market Neutral
Fixed Income Arbitrage
Fixed Income Arbitrage
Statistical Arbitrage
Equity Market Neutral
Equity Market Neutral
Equity Market Neutral
Annualized Return,
2012-2014 (%)
133.90
34.50
33.47
23.12
22.40
19.58
18.30
16.85
15.64
15.51
Source: Preqin Hedge Fund Analyst
Data Source:
Preqin’s Hedge Fund Analyst offers access to fund-by-fund and industry level performance data for over 11,200 funds and
share classes, providing a true market overview.
Compare funds to specific segments of the market, including by strategy, fund structure, geography and more, using the
Custom Benchmarks feature.
For more information, please visit: www.preqin.com/hfa
11
alternative assets. intelligent data.
The 2015 Preqin Global Hedge Fund Report - Top Performing Funds
Fig. 33: Multi-Strategy - Net Returns of Top Performing Funds, January 2012 - December 2014
Fund
Kaizen Strategic Opportunities Fund
YA Global Investments II
Aleutian Fund
GCI Japan Hybrids
Tradelink Master Fund
Asia Opportunities Fund
Zentrum Asia Opportunity Fund Segregated
Portfolio
Attunga Power & Enviro Fund
Mountaineer Master Fund
CAI Global Fund
Manager
Core Strategy
Kaizen Asset Management
Yorkville Advisors
Caygan Capital
Caygan Capital
TradeLink Capital
Black Crane Capital
Multi-Strategy
Multi-Strategy
Multi-Strategy
Multi-Strategy
Multi-Strategy
Multi-Strategy
Annualized Return,
2012-2014 (%)
37.36
22.58
21.13
18.03
17.24
16.99
Zentrum Capital Advisors
Multi-Strategy
12.97
Attunga Capital
Mountaineer Partners
Management
Central Asset Investments
Multi-Strategy
12.03
Multi-Strategy
11.39
Multi-Strategy
11.39
Source: Preqin Hedge Fund Analyst
Fig. 34: Single-Strategy Funds of Funds - Net Returns of Top Performing Funds, January 2012 - December 2014
Fund
Agenta Swedish Equity
Symmetry Long Short Equity Fund of Hedge
Funds
Agenta Global Equity
R Opal Global Equity - Class C EUR
GaveKal Asian Opportunities Fund
Manager
Core Strategy
Agenta Investment Management
Long/Short Equity
Annualized Return,
2012-2014 (%)
20.41
Symmetry Multi-Manager
Long/Short Equity
19.41
Agenta Investment Management
Rothschild HDF Investment
Solutions
Certitude Global Investments
Long/Short Equity
18.90
Long/Short Equity
15.77
Long Bias, Value-Oriented
15.63
Source: Preqin Hedge Fund Analyst
Fig. 35: Multi-Strategy Funds of Funds - Net Returns of Top Performing Funds, January 2012 - December 2014
Fund
Atrevida Multi-Strategy Charter Fund - Class D –
Series 2 (RMBS Opportunity)
West Mountain Partners
FondSelect Global
BTG Pactual PAR Plus
Shaked Opportunity Fund
Manager
Core Strategy
Annualized Return,
2012-2014 (%)
Atrevida Partners
Multi-Strategy
492.40
West Mountain
Aktie Ansvar
BTG Pactual
Shaked Capital Advisors
Multi-Strategy
Multi-Strategy
Multi-Strategy
Multi-Strategy
24.00
17.14
17.13
14.67
Source: Preqin Hedge Fund Analyst
Fig. 36: CTAs - Net Returns of Top Performing Funds, January 2012 - December 2014
Fund
Investment Program 1
X-Type Level 4
DeltaHedge Boote Program
IQS Futures Fund
Advanced Ag Futures Trading Program
Global Macro Universal
Delta Stream Level 0
Bocken Trading
Cauldron Investment Stock Index Plus
Commodity Trading Program
Manager
Manager Location
QQFund.com
Von Preussen-Hohenberg
Management AG
DeltaHedge
IQS Capital Management
Opus Futures
Von Preussen-Hohenberg
Management AG
Von Preussen-Hohenberg
Management AG
Bocken Trading
Cauldron Investment Co.
Paramount Capital Management
US
Annualized Return,
2012-2014 (%)
57.72
Germany
39.11
Italy
Barbados
US
35.81
33.32
27.43
Germany
25.84
Germany
25.15
US
US
US
22.63
20.23
17.68
Source: Preqin Hedge Fund Analyst
12
© 2015 Preqin Ltd. / www.preqin.com
The 2015 Preqin Global Hedge Fund Report - Top Performing Funds
Fig. 37: UCITS Hedge Funds - Net Returns of Top Performing Funds, January 2012 - December 2014
Fund
Montserrat Global Fund - B
Arcus Japan Fund - Relative Institutional Class
Sector Healthcare Value Fund - Class A NOK
Tiburon Taiko Fund - Class A (JPY)
Vitruvius Japanese Equity Portfolio - BI (JPY)
Manager
Core Strategy
Auriga Investors
Arcus Investment
Sector Asset Management
Tiburon Partners
Belgrave Capital Management
Long/Short Equity
Long Bias
Long Bias
Long Bias
Long Bias
Annualized Return,
2012-2014 (%)
39.72
29.83
28.80
22.96
22.91
Source: Preqin Hedge Fund Analyst
Fig. 38: Alternative Mutual Funds - Net Returns of Top Performing Funds, January 2012 - December 2014
Fund
Biotechnology UltraSector ProFund - Investor
Class
Daman Fifth Fund
Health Care UltraSector ProFund - Investor Class
Consumer Services UltraSector ProFund Investor Class
Merk Currency Enhanced U.S. Equity Fund Institutional Class
Manager
Core Strategy
Annualized Return,
2012-2014 (%)
ProFund Advisors
Long/Short Equity
73.05
Daman Investments
ProFund Advisors
Long Bias, Value-Oriented
Long/Short Equity
72.62
41.93
ProFund Advisors
Long/Short Equity
38.27
Merk Investments
Foreign Exchange
21.58
Source: Preqin Hedge Fund Analyst
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