HSBC’s Alternative Investment Group’s Investment Funds Performance Review showed that the top performing vehicle over the year was Senvest Partners, which rose by 73.78%.
SFP Value Realization also returned over 70%, with a further three funds, Marlin, Paulson Recovery and SR Global – Japan, all delivering performance in excess of 50% over the year. Showing a rare level of consistency in the hedge fund world, the Senvest Partners, SFP, Marlin and SR Global funds also appeared in the top 20 in 2012, with SFP Value Realization the best performer that year having returned 44.54%.
Worst performing
At the other end of the scale, the worst performing hedge fund in 2013 was RAB Special Situation, which fell by 31.14%. This compounded the misery of 2012, when it was the second worst performer, down 27.94%. Some funds managed by major players appear in the bottom 20 list, including the Brevan Howard Emerging Market Strategies, HSBC Trading Advantedge, Brevan Howard Commodities Strategies and Pimco Multi-Asset Volatility funds.
Biggest asset increase
Overall , performance added $190.1 billion to hedge fund industry assets under management (AUM) during 2013, according to figures from eVestment. Hedge funds took in a further $71.9m from inflows. Combining the two figures shows an overall increase of $262.0 billion, or 10.1%, the industry’s biggest asset increase in three years. Total industry AUM ended 2013 just below its all-time peak of $2.94 trillion set in June 2008.
Equity flows surpassed credit flows in the fourth quarter of 2013 for the first time since the first quarter of 2010, and activist strategies led event driven/distressed vehicles in terms of both flows and performance over the year.
