Top 5 Hedge Fund Managers Earned $6.875 Billion in 2017

Top 5 Hedge Fund Managers Earned $6.875 Billion in 2017

The top 5 hedge fund managers in the world earned a combined $6.875 billion in 2017.  James Simons, founder of Renaissance Technologies earned the most with $1.7 billion, while David Tepper, founder of Appaloosa Management earned $1.4 billion in 2017.  The 3rd highest earning hedge fund manager in 2017 is Kenneth Griffin, founder of Citadel with $1.3 billion.

” Top 5 Hedge Fund Managers Earned $6.875 Billion in 2017 “

With $6.875 billion earnings in 2017, the top 5 hedge fund managers are earning more than $18 million a day.

Top 5 Hedge Fund Managers Earnings in 2017:

  1. James Simons, Renaissance Technologies – $1.7 billion
  2. David Tepper, Appaloosa Management – $1.5 billion
  3. Kenneth Griffin, Citadel – $1.4 billion
  4. Ray Dalio, Bridgewater Associates – $1.3 billion
  5. Israel Englander, Millennium Management – $0.975 billion

Source: Institutional Investors

 

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Hedge Fund Manager Neil Chriss is Closing His $2.2 Billion Firm Hutchin Hill Capital

Hedge Fund Manager Neil Chriss is Closing His $2.2 Billion Firm Hutchin Hill Capital

Neil Chriss is closing his $2.2 billion hedge fund firm Hutchin Hill Capital LP after three years of poor performance and will be returning all capital to investors.  In 2017, Hutchin Hill lost 5.5%  this year through mid-November.  The firm had returned a net cumulative 83.2 percent and 6.6% on an annually since 2008.

“Hedge Fund Manager Neil Chriss is closing His $2.2 Billion Firm Hutchin Hill”

Neil has a doctorate in mathematics from the University of Chicago, and have previously worked for Morgan Stanley, Goldman Sachs and SAC Capital.  As a sophomore in high school, he had built a videogame called D’ Fuse and sold it to Tymac.

Source: Reuters, Bloomberg

 

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Hedge Fund Lost $6.5 Billion of Assets Since 2015

Hedge Fund Lost $6.5 Billion of Assets Since 2015

Hedge Fund Pine River Capital Management had lost about 68% of its assets in the last 12 months for its flagship fund, according to reports by Reuters (compiled by HSBC).  The fund dropped from $2.99 billion in July 2016 to $960 billion in July 2017.

” AUM fell by $6.5 billion in 2017, from $15 billion in 2015 “

Since 2015, the firm’s AUM fell $15 billion in 2015 to $8.5 billion in July 2017, a total decline of $6.5 billion.  Pine River Capital Management is a global alternative investment firm focused on relative value trading across a wide range of markets, regions and asset classes.  It was founded in Pine River, Minnesota in 2002 by CEO and Co-CIO Brian Taylor.

Source: Reuters

 


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“God” of Oil & Energy Market Shuts Down Main Hedge Fund

“God” of Oil & Energy Market Shuts Down Main Hedge Fund

Nicknamed the “God” of the oil and energy markets, Andrew Hall is shutting down his main hedge fund at Astenbeck Capital Management.  The flagship fund, Astenbeck Master Commodities Fund II, has dropped nearly 30 percent, posting large losses in the 1st half 2017.

” God of Oil & Energy Earned $100 Million bonus as Oil Trader in 2008 “

He rose to fame in 2007, in which he received $100 million bonus as an oil trader at Citigroup.  Andrew Hall graduated from Oxford University.  In 1980, he won the Henry Ford prize for top graduate for his MBA at INSEAD.

Source: CNBC, Bloomberg

 

Video: Ex-Citigroup Trader Hall Raises $1 Billion for Fund

 

Video: Andrew Hall, $100M Oil Man, Brings Fortune to Reading, Vermont

 


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Assets Held By Hedge Funds Reached $3.22 Trillion in 2016

Assets Held By Hedge Funds Reached $3.22 Trillion in 2016

Hedge funds globally held a record $3.22 trillion worth of assets as of end of November 2016, according to Preqin’s 2017 Global Hedge Fund Report. Investors outflows throughout the year hit US$102 billion & at the end of the year, 66% of hedge fund investors said that their portfolios had fallen short of expectations.

“Hedge funds globally held a record $3.22 trillion worth of assets as of end of November 2016.”

~ Preqin

However, 2016 was also one of the best performing years since 2013 posting gains of 7.4%. Hedge funds were positive for nine months in 2016 and were able to take advantage of the volatility from Brexit and US presidential elections.

Related Reports: Preqin

 


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Hedge Funds in Asia Had Highest Withdrawal in Past Four Years

Hedge Funds in Asia Had Highest Withdrawal in Past Four Years

Asia’s hedge funds had the highest investor withdrawals last month in more than four years. Hedge funds investing in Asia excluding Japan had net outflows of $2.1 billion or 1.3% of total assets according to Eurekahedge. This compares with withdrawals of $3.6 billion in Europe, $2.5 billion in North America.

“Asia’s hedge funds had the highest investor withdrawals last month in more than four years.”

~Bloomberg

The global hedge fund industry has faced problems this year due to the subpar returns and high fees. Investors allocating to Asia are also cautions as the industry is younger in Europe and funds investing in Chinese equities has suffered heavy losses at the beginning of the year.

Related Reports: Bloomberg, Finews Asia

 


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Hedge Funds Pull Funds out of Deutsche Bank

Hedge Funds Pull Funds out of Deutsche Bank

Amidst concern about Deutsche Bank financial position due to the legal penalties, about 10 hedge funds that has business dealings with the German lender have moved to reduce their financial exposure. The funds have moved part of their listed derivatives to other firms. Among them are Izzy Englander’s $34 billion Millennium Partners, Chris Rokos’s $4 billion Rokos Capital Management, and the $14 billion Capula Investment Management.

“This has caused the shares to fall a record low of $11.48 on Thursday.”

~Bloomberg

This has caused the shares to fall a record low of $11.48 on Thursday. Deutsche Bank has been struggling to adjust to stringent capital requirements and lower trading revenue.

Related Reports: Bloomberg, Financial Times

 

About Deutsche Bank

Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the Bank is continuously growing in North America, Asia and key emerging markets. With more than 78,000 employees in over 70 countries worldwide, Deutsche Bank offers unparalleled financial services throughout the world. The Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

Visit: Deutsche Bank


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Hedge Funds See Largest Redemptions Since 2009

Hedge Funds See Largest Redemptions Since 2009

Investors have pulled an estimated $25.2 billion from hedge funds in July, the biggest monthly redemption since February 2009, according to an eVestment report. In total, this brings total outflows this year to $55.9 billion driven by mediocre performance after a number of funds lost money last year.

“Investors have pulled an estimated $25.2 billion from hedge funds in July, the biggest monthly redemption since February 2009.”

~ Bloomberg

The largest outflows in July came from the credit and multi asset funds about $10 billion from each category. Hedge funds, which charge some of the highest fees in the money-management business, have faced mounting criticism from clients over steep costs and performance that mostly hasn’t kept pace with stock markets.

Related Reports: Bloomberg

 

About eVestment

eVestment provides a flexible suite of easy-to-use, cloud-based solutions to help the institutional investing community identify and capitalize on global investment trends, better select and monitor investment managers and more successfully enable asset managers to market their funds worldwide. With the largest, most comprehensive global database of traditional and alternative strategies, delivered through leading-edge technology and backed by fantastic client service, eVestment helps its clients be more strategic, efficient and informed.

Visit: eVestment

 


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Cayman Island Holds US$265 Billion in Treasuries

Cayman Island Holds US$265 Billion in Treasuries

A Caribbean financial centre is now the third biggest foreign owner of US government debt.  Cayman Islands where most hedge funds are domiciled holds US$265 billion of Treasuries as of March, up 31% from a year earlier.

“Cayman Islands where most hedge funds are domiciled holds US$265 billion of Treasuries as of March, up 31% from a year earlier.”

~ Bloomberg

This makes it the largest holder after China and Japan. Those nations each own more than $1 trillion of Treasuries. The surge in ownership of U.S. debt for the Caribbean getaway shows that hedge funds are joining more traditional mutual fund managers in buying Treasuries amid lack-lustrous returns in other assets, with many global stock indexes posting losses in 2016.

Related Reports: Bloomberg, Sydney Morning Herald

 

About US Treasury

The Treasury Department is the executive agency responsible for promoting economic prosperity and ensuring the financial security of the United States. The Department is responsible for a wide range of activities such as advising the President on economic and financial issues, encouraging sustainable economic growth, and fostering improved governance in financial institutions. The Department of the Treasury operates and maintains systems that are critical to the nation’s financial infrastructure, such as the production of coin and currency, the disbursement of payments to the American public, revenue collection, and the borrowing of funds necessary to run the federal government. The Department works with other federal agencies, foreign governments, and international financial institutions to encourage global economic growth, raise standards of living, and to the extent possible, predict and prevent economic and financial crises. The Treasury Department also performs a critical and far-reaching role in enhancing national security by implementing economic sanctions against foreign threats to the U.S., identifying and targeting the financial support networks of national security threats, and improving the  safeguards of our financial systems.

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Investors Pulling their Money out of Hedge Funds

Investors Pulling their Money out of Hedge Funds

In the past two quarters, investors have pulled more money from hedge funds than they put in. The sum was almost $ 17 billion and it is the worst outflow since 2009. More investors are demanding that the struggling funds lower the fees of 2% of assets and 20% of profits that they typically charged.

“In the past two quarters, investors have pulled more money from hedge funds than they put in. The sum was almost $ 17 billion and it is the worst outflow since 2009.”

~ Bloomberg

Hedge-fund managers are seeking new ways to quiet any investor unease. Some are now pitching their own lower-cost products that bear little resemblance to the industry’s traditional offerings in price. One hedge-fund manager, TIG Advisors President Spiros Maliagros, said he believes investors will continue to seek out firms like his for the chance to do better than they would with mainstream investments. But he said the industry needs to be clearer that returns aim to diversify and ease the impact of market swings, not simply earn the highest payouts.

Related Reports: Bloomberg, The Wall Street Journal, Fortune

 

About TIG Advisors

TIG Advisors, LLC is a privately owned hedge fund sponsor. The firm primarily provides its services to institutional investors and other sophisticated investors. It manages separate client-focused portfolios. The firm launches and manages hedge fund for its clients. It primarily invests in public equity and fixed income markets. The firm employs fundamental analysis to create its portfolio. TIG Advisors, LLC was founded in January 1, 2006 and is based in New York City with additional office in Beverly Hills, California.

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Link: https://www.tigfunds.com/about/


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