Hedge funds flat in March, Fortress Investment Group & BlueGold Capital outperform

Hennessee Group LLC announced yesterday that its hedge fund index was up just 0.23% in March and 2.35% year-to-date. In comparison, the Standard & Poor’s index was up 5.43% during the same period in 2011, but down 0.10% in March. Also, Hedge Fund Research, another Hedge fund research firm which aggregates data on over 2,200 hedge funds for its Hedge Fund Research Index, said its average hedge fund was up 0.31% in March and 1.99% YTD.

The strongest performers in the Hennessee index were technology (+5.2%) and healthcare-focused (+1.7%) hedge funds, while overall long/short equity funds were up 0.23%.


Poor performance was largely attributed to volatility caused by the earthquake in Japan and the widespread unrest and instability in the Middle East. Hennessee’s Global/Macro Index was up 0.32% but the Macro Index fell -1.33% in March and -1.29% YTD. Furthermore, The Hennessee International Index fell 0.50% in March, though was still up 1.32% YTD.

However, Fortress Investment Group was one winner in March, with its Asia Macro Fund up 3.5% in March. Fortress Investment Group’s Global Macro Fund was also up 1.8% and its commodities fund rose 1.5% in March. Notably, according to reports, all of Fortress Investment’s hedge funds recorded gains in March.

Another big winner is Pierre Andurand’s BlueGold Capital, which specializes in energy investments. BlueGold was up 5.5% for the quarter, far outstripping the average energy hedge fund, which was down almost -3% for the quarter.

Some notable losers include John Paulson’s Advantage Fund, down 3.10% in March and 1.24% YTD. Paulson & Co. ’s Advantage Plus Fund fared even worse, losing 4.4% in March, bringing its YTD performance down to -1.74%. Paul Tudor Jones’s Tudor BVI Global fund also fell -0.47%, and even Dan Loeb’s Third Point Offshore fund, one of the year’s top performers at a 6.78% gain over the first quarter, fell in March.

Och-Ziff Capital Reports Gains & Future Plans

Och-Ziff Capital Management Group gave a glimpse into its investment progression Tuesday when hedge fund manager Daniel Och revealed that the fund will push its, “investment track record, transparency and infrastructure as the key drivers to furthering our competitive differentiation over time.”
See Complete Article

Tiger Management’s Julian Robertson loves Apple

In an interview on CNBC this morning, Tiger Management’s Julian Robertson revealed that he remains hot on Apple Inc. (AAPL). Robertson believes that the company’s stock price could potentially surge to 25 to 30 times earnings over next 12 months. He said that such a high valuation is not inconceivable, since Apple is quite possibly the greatest company in the world.
See Complete Article

Paul Tudor Jones is Not Making Investors Any Money

Greenwich hedge funder Paul Tudor Jones might be a Forbes billionaire but he’s not helping his investors make the big bucks this year. According to an investor, BVI Global, his largest fund at Tudor Investment Corporation, is negative .9 percent as of September 20th. Meaning the 10 billionish of investor money he runs, in BVI, is lagging behind the industry average (Global Diversified Sector) whose average performance, according to HSBC, is positive 2.1 percent.

Source

Jim Pallotta launches Raptor Evolution Fund

Legendary hedge fund manager Jim Pallotta is returning to the industry with the launch of the Raptor Evolution Fund. The new hedge fund management firm has reportedly raised approximately $200 million and will employ the same long/short equity strategy that established Pallotta during his impressive run at Paul Tudor Jones’ Tudor Investment Corporation. According to theNew York Times, Mr. Pallotta achieved returns that averaged over 19% annually over his 15 year tenure at Tudor.

To read full article, click here.