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Between the Reddit-fueled retail assault on popularly shorted shares in early 2021 and the late-calendar year tech selloff, lots of notable equity-centered hedge money misplaced cash very last calendar year.
But numerous many others liked incredibly successful decades. This includes Senvest Management, which was potentially the major accomplishing hedge fund of meaningful dimension in 2021 right after intensely benefitting from the limited vendor assault. The Senvest Learn Fund posted an 85.2 % attain, driven in substantial part by its long place in GameStop, which surged exponentially in January 2021 when retail investors were giddily acquiring shares of the movie activity retailer and other seemingly lousy firms that have been seriously shorted by hedge fund honchos. Senvest exited the inventory entirely by late January.
Minimal shock, Senvest was a person among the 6 companies to be nominated in the fairness-targeted category for Institutional Trader’s 19th annual Hedge Fund Market Awards. (Very last year’s opposition did not consider place thanks to the international pandemic.)
The other fairness-centered nominees ended up both concentrated on particular industries or, like Senvest, closely benefitted from just one inventory. These contain Impala Asset Management, whose Impala Methods fund surged virtually 52 per cent SRS Financial investment Management, which obtained 35 p.c many thanks in substantial element to its extended-held outsized expenditure in Avis Spending plan Team EcoR1, which created a 29 per cent return, earning it one particular of the only rewarding daily life sciences cash and activist Sachem Head Funds Administration, which was up 23 percent.
1 tech-centered fund also stood out: Seligman Tech Spectrum, a prolonged-short fund that specializes in technological innovation, media, telecom, and health care. It was up extra than 50 %.
These fairness supervisors weren’t the only winners of 2021. Credit score resources enjoyed their most effective effects in a 10 years, with the Gapstow Money Partners composite index of 106 hedge cash attaining 12.2 p.c in 2021. All 106 money built dollars, ensuing in the index’s ideal 12 months considering that 2013.
And this year’s nominees produced gains that significantly exceeded the index average. Silver Place Cash Fund was up 24 per cent, GoldenTree Asset Management’s principal fund was up almost 22 p.c, and SVPGlobal’s Strategic Worth Restructuring Fund gained additional than 24 percent.
It was a mediocre calendar year in standard for multistrategy money, but quite a few well-acknowledged names excelled. These bundled Citadel, whose Wellington Fund led the pack with a superior-than 26 percent acquire D.E. Shaw’s Composite fund, which was up 18.5 percent and Millennium Worldwide, which rose 13.5 percent.
On the other hand, lots of of the classes showcased top rated performers that are not precisely domestic names. Perhaps the most well known among them is Haidar Cash Management, whose macro fund Haidar Jupiter Fund concluded the calendar year up about 69.5 percent.
The voting process for the Hedge Fund Awards begins with a community connect with for nominations. The II editorial staff concurrently devises a record of candidates centered on its personal information of the companies and establishments, as very well as discussions with its network of sector resources. All the nominations, as well as the internally produced candidates, are then vetted primarily based on how strongly the editorial staff thinks they meet a large range of requirements for their respective groups.
Now that the finalists have been named, II will perform a extensive study of U.S. allocators and invite them to vote for the supervisor nominees. Hedge fund supervisors, in switch, will vote for the allocator nominees they imagine really should win. (Click below to see the listing of allocator finalists.)
The winners will be revealed at a gala evening meal and ceremony at the Mandarin Oriental in New York on Wednesday, April 27. Two Life span Achievement Awards will also be presented at the celebration, 1 to an expense manager, and an additional to an asset operator. Chris Hohn, founder and portfolio supervisor of TCI Fund Management, will accept the award for hedge fund managers. The allocator receiver will be named in the coming weeks.
For more information and facts about the dinner, make sure you check out the event web site. Experienced allocators can vote right here.
Institutional Hedge Fund Supervisor of the Year
- Citadel
- D.E. Shaw & Co.
- Elliott Management Corp.
- Man Group
- Millennium Administration
- TCI Fund Management
Emerging Hedge Fund Supervisor of the Year
- Anacapa Advisors
- Analog Century Management
- Castle Hook Associates
- Engine No. 1
- Madison Avenue Partners
- Synthesis Expense Administration
Fairness-Focused Hedge Fund Supervisor of the Year
- EcoR1 Funds
- Impala Asset Management
- Sachem Head Capital Management
- Seligman Technological innovation Team (Columbia Threadneedle Investments)
- Senvest Administration
- SRS Financial investment Management
Credit score-Targeted Hedge Fund Supervisor of the Year
- Brigade Capital Management
- GoldenTree Asset Management
- Hildene Funds Management
- Lodbrok Money
- Silver Position Money
- SVPGlobal
Multistrategy Hedge Fund Supervisor of the Yr
- Boothbay Fund Management
- Citadel
- D. E. Shaw (Composite)
- Elliott Management
- Millennium Administration
- UBS O’Connor
Activist Hedge Fund Supervisor of the 12 months
- Engaged Capital
- Pershing Sq. Money Administration
- Sachem Head Funds Management
- Starboard Price
- TCI Fund Administration
- Trian Fund Administration
Party-Driven Hedge Fund Supervisor of the Year
- Armistice Capital
- Bardin Hill Expenditure Partners
- Fir Tree Associates
- HG Vora Cash Management
- Owl Creek Asset Management
- ValueAct Capital
Macro Hedge Fund Supervisor of the Yr
- Castle Hook Associates
- D.E. Shaw (Oculus)
- Discovery Money Management
- Gemsstock Ltd.
- Haidar Funds Management
- Kirkoswald Capital Companions
Quantitative Hedge Fund Supervisor of the Yr
- Arrowstreet Cash
- Campbell & Organization
- Florin Court docket Capital
- John Avenue Cash
- Paloma Associates
- Systematica Investments
Most Impressive Hedge Fund Supervisor of the Year
- Adage Money Management
- Magnetar Capital
- Guy Group
- Marshall Wace
- RA Funds Management
- Taconic Money