Hedge Fund Rankings/Information
Anybody have any good websites where you can access free information on hedge funds with ranking without having to pay $800 a year for a subscription to alpha magazine? looking to compare different ones on the basis of strategy, size, etc...
this is from the end of 2005, but anyway scroll down to page 23: http://marhedge.com/subscribers%5Celectronicedition%5C%5C2005%5C12.%20d…
This is a tough one. As you probably know the hedge fund industry tends to be opaque and somewhat secretive. The result is that obtaining information, especially on a standardized basis, is difficult to do. Databases like HFR, AltVest and HedgeFund.net are the best sources for the info you are seeking but each costs $$$. These sources allow for easy comparison. Besides these, you might find some information on managers through weekly or monthly publications like Hedge Fund Alert or Alpha magazine but again these cost $$$. The same goes for daily e-mail services like the Alternative Market Briefing (opalesque.com). In the latter two examples, searching by characteristics or manager attributes is challenging.
The other problem you have with all of these methods is that information is often inaccurate or incomplete for managers/funds, making analysis difficult. The only solution for this problem is to actually know as many managers in the space as possible or hire someone or a firm that does.
What is the best way of finding hedge fund performance in last quarter ? (Originally Posted: 05/16/2013)
What is the best way of finding hedge fund performance in last quarter ?
http://www.hedgeindex.com/hedgeindex/en/default.aspx?cy=USD
http://www.zerohedge.com/news/2013-04-22/complete-hedge-fund-performanc…
How to find information on HF if... (Originally Posted: 03/28/2013)
A. Website only states name and city (no address). B. No sec.gov files, 13-F or D C. No employees on linkedin D. Google searches only show up "Fund XYZ is hiring"
Is it possible that the current fund name is a fake so that no one can see the actual fund hiring?
no 13f prob means the fund is less than $25mm aum w/ 1 managing partner running the show out of his house or small office.
Could be a startup?
Correct, funds below $25m don't need to file with SEC. If they have more than three clients in their state they may be required to be registered with the state (depending on the state and various other factors), so you could check there.
I saw that they were registered with a state. Thanks for the help guys.
How to find a hedge fund's performance? (Originally Posted: 01/16/2010)
Hello Monkeys,
How do I find out the performance of a particular fund? I can get the total amount sold to investors by looking at the SEC Form D Notice of Exempt Offering of Securities, and I can also see the quarterly holdings from Form 13F.
Do you guys have any other suggestions as to what I can look at to do a due diligence on a particular fund?
Thanks in advance!
I think bloomberg might have some of this; I recall searching some hedge funds in the past through it, but don't recall what specific information I pulled. Hedge Fund Research I know does, but you need a subscription.
Hmm I have access to PrivateEquityInfo.com which is pretty useless... also my subscription with MorningStar doesn't let me view Hedge Fund performance, only mutual funds...
I'll see if I can find anything with Bloomberg. Although I'm travelling and I can't access it right now.
Thanks for the tip Alpha!
http://www.hedgefund.net
HSBC private banking group puts out performance figures for several hundred funds monthly, which are usually posted on Dealbreaker shortly after their publication
Finding Out Info About HF? (Originally Posted: 12/02/2012)
I'm speaking with a PM at a distressed/mezzanine debt HF on Monday for an informational interview. They don't have a website and nothing comes up in EDGAR, though I did manage to find their address, which is about all Google brings up.
Nothing on WSO about it, either. Any other ideas where I could look?
HedgeTracker.
Nothing came up. The fund is Cooperstown Capital Management, LLC. They were founded in 2010. That's about all I know. Any other ideas?
I suggest you start posting under another username.
Try looking up their form ADV (I should remember, but don't if it's part I or II that has this info) through the SEC, that should tell you their AUM at the end of last year, the primary owners of the business (and the range of ownership for each owner), their fee rates, a brief description of their strategies, and other things like that. It's only updated once per year, so the data will be a little stale, but usually helpful anyway.
For example: SAC Capital http://www.adviserinfo.sec.gov/IAPD/Firm/161111
If they have less than $100 million in AUM at the end of last year, they might only be state registered. I am not sure, but you may be able to find similar info on the state regulator's site.
Hedge Fund Performance YTD (Originally Posted: 10/10/2015)
I remember reading a relatively recent thread, where there was discussion surrounding hedge funds and their performance. Given the recently bad year, I decided to have a look at how hedge funds were doing (link inside the post):
It seems like the diversification argument for investing in hedge funds is holding up.
I'm not trying to degrade anyone for their opinions. I just find this quite interesting and thought that others might too.
http://data.hedgefundintelligence.com/funds4/public/indices/default.aspx https://secure.hedgeindex.com/hedgeindex/en/indexoverview.aspx?cy=USD&i…
Keep in mind that September was not a picnic either and returns are (almost certainly) worse than August YTD. Healthcare has gotten killed across the board - pharma, biotech and services all got smoked. You have generalist funds that have gotten in here for some of these pharma names that have been smoked... ie everyone's favorite roll-up story Valeant.
Tough year, but a lot of opportunities for the long-term investor. I dont expect the volatility to end until rate hike is complete.
http://www.bloomberg.com/news/articles/2015-10-02/ackman-einhorn-lead-h…
I think a lot of people are misinterpreting hedge fund performance YTD 2015. First off, the large hedge funds I am quite familiar with (2bn to 40bn multi-strat funds) are market neutral. Meaning, at any given point in time they are shorting stocks and longing stocks, creating pair trades. Now, the idea here is there will be some stocks in a sector or type of strategy/focus that will go up and down, so if overall market macro is pushing down or up, the hedge fund is not booking losses or gains... the way this strategy works out is their buys outperform their peers and if the shorts underperform their peers beyond the market volatility. There are times where trades totally fall apart, but hedge funds can counter this by buying options on sectors/FX/interest rates/specific stocks.
With the above being said, there are a bunch of funds that do not run a makret neutral book and have lost money due to bad timing or misunderstanding the type of volatility we are encountering. I know the majority of tech funds around have been getting hit pretty hard.
Hedge Fund Performance January 2012 (Originally Posted: 02/08/2012)
HSBC published the Hedge Weekly for the week of Jan 30 to Feb 3, revealing a list of hedge funds’ performances in January 2012. Some of the hedge funds haven’t reported any 2012 returns yet. Overall, it seems most hedge funds’ returns are on their way back to positive. Let’s take a look at them.
1. John Paulson – Paulson & Co: Hedge Weekly updated Paulson’s 2011 year-end returns. Through the end of 2011, Paulson’s Credit Opportunities fund lost 18.24% His Advantage fund lost 35.96%. His Advantage Plus fund lost 52.64%, and his Recovery fund lost 27.73%. It’s been recently reported by several financial media outlets that Paulson returned around 5% in January 2012.
2. Bill Ackman – Pershing Square: Pershing Square gained 1.10% during the first 13 days of January.
3. Dan Loeb – Third Point: Loeb’s Third Point Offshore fund returned 3.8% during the first 13 days of January 2012.
4. Lee Ainslie – Maverick Capital: Maverick Fund gained 5.89% through January 27, 2012.
5. Jim Simons – Renaissance: Renaissance Institutional Equities gained 0.01% during January 2012.
6. Israel Englander – Millennium: Englander’s Millennium Intl Ltd gained 1.20% in the first 26 days of January.
7. James Dinan – York Capital: Dinan’s York Investment Ltd. gain 2.50% through January 20.
8. Steve Heinz – Lansdowne: Lansdowne’s European Long Only fund gained 4.52% from December 31 to January 27. Lansdowne’s UK Equity fund gained 5.67% in the same time period.
9. Joshua Friedman – Canyon Capital: Canyon’s Balanced Fund lost 4.57% last year. Its January performance is unavailable.
10. Edward Mule – Silver Point Capital: Silver Point Offshore fund gained 0.71% during the 13 days of January.
"This is syndicated content and is approved for release on Wall Street Oasis. Mods, please do not block or delete. Thanks
Why wouldn't you link to the actual report?
Free/cheap assets/performance database? (Originally Posted: 05/27/2008)
anyone know of a free or cheap database of hedge funds with assets, 1- and mutli-year track record info? i know there are some out there that are hella expensive that are sold to investors ... is there a cheapo version for job seekers? hehe. the alpha mag list kinda sucks.
and if you do know one and would be kind enough to share, shoot me an email at [email protected]
cheers!
Respectable Long/Short Equity HF Returns (Originally Posted: 04/27/2014)
Hey guys, I'm trying to decide on offers to join a long/short fund and have been comparing historical returns. I know returns aren't necessarily apples-to-apples since they depend on your gross/net exposure, strategy, size of AUM, and vintage, but for the typical stock-picking long/short funds, what are considered to be good annualized returns? ~10%? ~15%? ~20%?
I think anything above 15% would be awesome, but would funds returning 10-14% be respectable?
Just as more context, I guess I'm trying to see how much weight I should put on the fund's historical returns versus culture, fund size, pedigree, compensation etc
Very little weight towards historical return. Of course if they flat out suck then it's out of the question but most of the time you should look at the other variables that you mentioned. The most important thing is how smart your boss is and how much you can learn from him. Culture and compensation are great too... but if you want longevity in this business you need to be learning from the right source.
The biggest drivers of returns will be exposure and leverage. Beta-neutrality will also have an effect (funds that are long low-beta and short high-beta will generate some money).
If you find a zero-leverage beta neutral market neutral hedge fund generating 5% after fees, for instance, that is incredibly impressive.
By the way, if you have offers you should certainly ask what their alpha is, and how they calculate it. It is not a taboo question, but is asked surprisingly rarely.
bump
5% after fees for a market neutral fund
HSBC has report called hedge weekly. over 200 hedge funds that reports annual returns in there, a big chunk are equity funds. check it out. for most equity funds anything over 15% would be very decent. most never get over 20% per year over an entire 10 years.
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