GS’ Global Alpha Leads Losers

Discussion in 'Wall St. News' started by ASusilovic, Jan 8, 2008.

  1. It should come as no surprise to anyone following hedge fund trials and tribulations of the past year that Goldman Sachs’ Global Alpha Fund was the clear loser in 2007. Financial News reports that the -39% loss record last year nearly erased the total 46% in gains from 2005 and 2006. The closest any HF came to achieving that dubious distinction is Blue Sky Japan’s similarly named offering, which closed out the year at -31%. Rounding out the far from fabulous five are Odey Asset Management’s Japan & General Fund (-26%), Drake Management’s Global Opportunities Fund (-23%) and GMN’s GMN Capital (-19%), which closed at the end of the year. On the sunnier side of the standings, according to FN, Harbinger Capital Partners soared 111%, followed by 788 Asset Management’s 788 China Fund (+104%), Gartmore’s AlphaGen Tenro (+57%), Sandler Capital Management (+53%) and Odey’s European Inc. (+52%). It is not clear why FN did not include the Paulson & Co. funds, at least one of which reportedly ended 2007 up in the hundreds of percentage points. Investors and industry pros alike are still waiting to see if 2007 overall matched the 13% gains of the year before. According to the paper, returns from seven data providers to issue estimates have ranged between 8.9% and 12.04% through Nov. 30, with Hedge Fund Research estimating its investable index slid -0.07% in December, which would seem to dash hopes for a repeat of 2006.
  2. 13% overall last year? Hedge fund compensation for index fund results. What a great business to be in!
  3. :D
  4. Annual Returns FUND (MANAGER) 2007

    Paulson merger arbitrage 52.0%
    Paulson event arbitrage 100.0%
    Paulson Credit Opportunities 589.9%
    Paulson Credit Opportunities II 351.8%
    (Paulson & Co., New York)
    Passport Global Master Fund 219.0%
    (Passport Management LLC, San Francisco)
    Harbinger Capital Partners Fund 118.0%
    Harbinger Special Situations 170.0%
    (Harbinger Capital Partners, New York)
    Highside Capital 57.7%
    (Highside Capital Management LP, Dallas)
    Eton Park Master Fund 35.0%
    (Eton Park Capital Management, New York)
    Pequot Core Global strategies 35.0%
    (Pequot Capital Management Inc.)
    QIM Quantitative Global 28.6%
    (Quantitative Investment Management LLC,
    Charlottesville, Virginia)
    Atticus European 28.0%
    Atticus Global 25.0%
    (Atticus Capital LP, New York)
    MKP Partners 27.7%
    (MKP Capital Management LLC, New York)
    Magnetar Capital Fund 25.3%
    (Magnetar Capital LLC, Evanston, Illinois)
    Tremblant Partners 22.0%
    (Tremblant Capital LP, New York)
    Cerberus International 19.0%
    (Cerberus Capital Management LP, New York)
    King Street Capital 16.0%
    (King Street Capital Management LLC, New York)
    Farallon Capital Partners 14.8%
    (Farallon Capital Management LLC, San Francisco)
    SAC Capital International Fund 13.0%
    (SAC Capital Advisors LLC, Stamford, Connecticut)
    OZ Master Fund 11.7%
    (Och-Ziff Capital Management Group LLC, New York)
    Pure Alpha Fund 9.5%
    Pure Alpha Fund enhanced 12.4%
    (Bridgewater Associates Inc., Westport, Connecticut)
    Highbridge Master fund 8.5%
    Highbridge long-short equities fund 40.0%
    Highbridge Asia equities 19.0%
    Highbridge Statistical Opportunities -14.0%
    Highbridge Event Driven/Relative Value -10.0%
    (Highbridge Capital Management LLC/JPMorgan, New York)
    D.E. Shaw Composite 7.4%
    Oculus 26.0%
    (D.E. Shaw & Co., New York)
    Old Lane 2.8%
    (Citigroup Inc., New York)
    32 Capital 0.3%
    (Barclays Global Investors, San Francisco)
    Renaissance Institutional Equities Fund -1.0%
    (Renaissance Technologies Corp., East Setauket, New York)
    Prism Offshore Fund Ltd. -7.4%
    Prism Partners QP -8.5%
    (Delta Partners LLC, Boston)
    Global Alpha -38.0%
    Global Equity Opportunities -30.0%
    (Goldman Sachs Group Inc., New York)*
  5. paulson was on fire this past year
  6. makloda,

    we shall create a FoHF...Sharpe Ratio > 3, Correlation S&P -1.0, Max. drawdown -15 %, RoR > 25 % ? what do you think ? :p
  7. [​IMG]
  8. HotTip


    How much wealth do you need so that Paulson would even take your investment?