Top Fund Of Funds Managers

Top Fund Of Funds Managers – For the fifth time in seven years, the 83-year-old founder of quantitative specialist Renaissance Technologies tops a rich list of institutional investors, the definitive ranking of top-earning hedge fund managers.

Simons reclaimed the throne after earning $3.4 billion in 2021, replacing last year’s leader, Israel’s “Izzy” Englander. The Millennium Management founder had to settle for second place after earning “just” $3.1 billion in 2021.

Top Fund Of Funds Managers

In total, the 25 highest-paid hedge fund managers earned $26.64 billion last year, the second-highest amount in Rich List history after the 2020 record.

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Over the past two years, members of the first group of the rich list have collectively earned more than $58 billion.

This year, $260 million must have been earned just to qualify for the main roster. (A second group of top earners who did not make the top 25 will be announced in the coming weeks.)

Eight managers earned at least $1 billion last year, and the median earner – Coatue Management’s Philippe Laffont – took home $800 million despite his hedge fund earning less than 6% in 2021.

Only two qualified for the rich list for the first time: Karthik Sharma of SRS Investment Management, which cashed in on a large stake in Avis Budget Group as its share price rose more than five times, and Richard Mashaal of Senvest Management, top performer on the rich list, at 85%. With better performance than .

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The richest on the Rich List, Simons is the only hedge fund manager to qualify for the 21 years since the ranking’s inception. This year, mathematicians topped the list for the fifth time in the past seven years. The 83-year-old’s best performance was once again the entries-only Medallion fund. This is 48% more than last year. Meanwhile, Simons’ three mutual funds posted returns of between 10.5% and 20.5% after suffering steep losses in 2020. Renaissance now manages about $60 billion after posting about $15 billion in dollars of releases since the end of 2020.

The 52-year-old Wall Street veteran fell to second place after topping last year’s rankings. No need to shed tears: its multi-strategy fund Millennium USA gained 13.6% (Millennium International more or less), which puts it in the middle of the pack in this strategy. Today, 278 strategy teams manage the 33-year-old firm’s more than $53 billion in assets across four primary strategies: relative value fundamentals, equity arbitrage, fixed income strategies and quantitative strategies. The company’s trading volume also increased by 17% last year. By the end of the year, Millennium had returned $15 billion to investors in a redeemable share class during the year and raised $13.7 billion in an expanded blocking class.

Griffin outperformed its multi-strategy rivals by 26.26% last year, marking the third consecutive year that Citadel has exceeded its 31-year annualized return by more than 19%. The Wellington fund’s five core strategies – equities, commodities, global and macro fixed income, credit and quantitative – were profitable. Last year, Citadel, which manages about $46 billion, invested $2 billion in MelvinCapital Management after the long-short fund posted steep losses in early 2021. The company bought out much of that investment. As for Griffin’s politics, the huge Republican donor said late last year that he would not support another Donald Trump candidacy.

Consistency is the word for the London-based operator, whose funds rose 23.3% last year – its sixth double-digit rise in the last seven years. As a result, TCI will generate $9.5 billion in profits for investors in 2021, according to London-based LCH Investments. TCI’s fund currently manages about $44 billion and the company oversees $55 billion. Hohn maintains a concentrated, long-only global equity portfolio: Just six of 13 US long positions, including the current activist target Canadian Pacific Railway, made up nearly 80% of the US equity portfolio. European infrastructure stocks not traded in the US accounted for 20% of the fund’s portfolio.

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Tiger Global alum Sarma enters the fifth spot on the rich list after posting a 35% gain in his flagship hedge fund. The result was largely driven by his long and outsized stake in car rental giant Avis Budget Group, which accounted for nearly half of his company’s US-listed stock portfolio at the end of the year. . A major beneficiary of the post-pandemic reopening of the economy, Avis’ stock has increased nearly 5.5 times in 2021 alone.

Tepper seems better known these days as the owner of the Carolina Panthers professional football team than as the founder of Appaloosa, whose hedge fund soared in his mid-teens. last year. Most of the company’s roughly $13 billion is owned by Tepper, which uses an approach such as an eclectic multi-strategy because most client capital was returned years ago. Markets were tepid at the end of October due to fears of rising interest rates. “I don’t think there’s a huge asset class right now,” Tepper told CNBC. “I don’t like stakes. I don’t like ties. I don’t like unnecessary ties.”

The other professional sports financier on the rich list – Cohen owns baseball’s New York Mets – the multi-strategic manager posted an average gain of 9.2% in 2021. But he’s still one of the top earners in 2021 Last year, along with Citadel, Point72 invested $750 million in Melvin Capital in early 2021 after heavy losses. Point72 has also made headlines for joining the growing number of hedge funds and Wall Streeters who have visited or opened offices in Florida. However, the majority of the company’s IT employees are located in Warsaw, Poland.

Tiger Grandcub makes the top ten due to its aggressive betting on private companies. Last year, D1 made at least 73 private investments, triple the number from the previous year. Its share class, which invests half of its capital in private investments, saw a gain of 26.72% in 2021, while another class with private investments rose 16.1%. In contrast, the equity class, which does not include private companies, fell 7.9%. Still, give Sundheim – the former CIO of Viking Global Investors – big credit for a big comeback: D1, one of several hedge funds hit by retailers’ assault on popular short stocks, fell 20 % in January 2021.

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Activist Loeb seems to have covered his acerbic tongue lately — at least publicly — but one thing hasn’t gone away: his knack for stock picking. Its Third Point Offshore Fund rose 22.9% last year, despite a 5.1% loss in the fourth quarter. In 2021, shares accounted for 21% of Third Point’s 31% gross profit; His long bets started at 32.1% for gross profit. Loeb benefited greatly from several previous private investments at the end of 2021: Upstart Holdings, an online lending marketplace; cybersecurity firm SentinelOne; and electric vehicle maker Rivian Automotive.

Saved at the last moment. The computer-driven macro giant’s Pure Alpha II gained 7.9% in 2021, following a 7.6% gain last month. In December, Bridgewater was long equities and commodities and short US and UK fixed income. Thanks to his huge capital invested in the company and the fees generated by Bridgewater’s approximately $150 billion capital, Dalio managed to stay among the top ten earners on the rich list. Since its inception in 1975, Bridgewater has returned $52.2 billion to its investors – more than any other company, according to LCH Investments. The story is hard to believe, but Main Street managed to turn things around on Wall Street, temporarily. Hedge funds had to cut their losses after a group of amateur traders rallied to raise shares of GameStop. The group’s action on Reddit has caused huge losses to some prominent companies. Among those affected were well-known managers Steve Cohen and Dan Sandheim.

Hedge fund managers tend to earn big, with the top 25 earning collectively pocketing $20.2 billion in 2019, according to a ranking released last March by Institutional Investor. That year, Chris Hohn and James Simons earned the most with $1.8 billion each, followed by Ken Griffen and Izzy Englander with $1.5 billion.

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The value proposition of a fund of funds (FOF) for its investors is its ability to undertake strategic asset allocation.

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