Perceptive Advisors’ Joseph Edelman regularly crushes markets and hedge fund peers. How? ByAmanda Cantrell August 13, 2018 Perceptive Advisors, in 1999. Since then the firm, which started with $6 million in assets, has swelled to $4.1 billion on the back of almost-unbelievable performance in its flagship hedge fund, the Perceptive Life Sciences Fund. That fund, which invests in biotech companies, particularly in the small- and midcap range, has generated annualized gains since inception of 30 percent net of fees — putting Edelman in a rarefied league of high-performing discretionary fund managers. Last year was even better. For 2017, the fund’s 41 percent gain propelled Edelman to the No. 13 spot onInstitutional Investor’sRich Listranking of the 25 highest-earning hedge fund managers. That performance was the best of any on the list, and netted him a cool $525 million. https://www.institutionalinvestor.c...urce=CampaignMonitorEmail&utm_term=The 41 Man What’s more, the fund has posted just two down years since its inception: 2002, when it lost 10.33 percent in a year when the Nasdaq Biotechnology Index lost more than 45 percent, and 2008, when Perceptive lost 23.98 percent, nearly doubling the biotech sector’s loss of more than 12 percent that year. In 2016 — a crushing year for biotech, when presidential campaign rhetoric on drug prices cratered stocks in the sector — Perceptive returned 3.81 percent, versus a nearly 22 percent loss for the sector. This year it returned more than 16 percent through late June.
I wonder how much the minimum is to invest. At 4 billion it's still pretty small, maybe still lots of upside.