Top Hedge Fund Performance
Hedge funds are large, aggressively managed funds that are offered to a limited number of investors and require large minimum investments. These funds use advanced techniques, such as shorting and derivatives, to generate high returns. In 2009, hedge funds saw their highest gains in more than a decade.
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Paulson & Co.'s Advantage Fund
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In 2009, Paulson & Co.'s Advantage and Advantage Plus (1.5 leveraged) funds gained 14 percent and 21 percent, respectively. Paulson hedge funds have had great success through the years and made billions betting against sub-prime mortgages in 2007. The Paulson Credit Opportunities fund, which bets against these mortgages, gained a whopping 34 percent in 2009.
Greenlight Capital Re
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Greenlight Capital Re lost nearly 18 percent in 2008, due to a temporary ban on shorting on more than 800 financial stocks. It quickly reversed those losses to a 32 percent gain in 2009.
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Serengeti Asset Management
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Serengeti Asset Management had a poor 2008 and amazing success the next year. In 2009, Serengeti's Rapax fund increased to a 41 percent gain from 11 percent in the previous year. The Serengeti Overseas fund gained 87 percent in 2009, after losing 50 percent in the prior year.
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