When the firm runs onshore and offshore funds, we seek out the performance numbers of the vehicle with the most assets. MFS is a textbook long-term investor; it regularly ranks in the top five firms for five- and 10-year returns. Copyright ©2021 Dow Jones & Company, Inc. All Rights Reserved. He has had to figure out how to fit a growing staff of 73 into a renovated garment factory, originally built by a grandfather of former Disney Chairman Michael Eisner near the Jersey shore in the town of Red Bank. All told, just 55 asset managers out of the 843 in Lipper’s database met our criteria for 2019. Time Warner “It doesn’t make sense to have seven different people making forecasts on energy prices,” he says of the inspiration behind regular thematic and fundamental research meetings covering topics as varied as monetary policy and how to value Amazon.com. While many notable firms generally don’t qualify for the ranking, the list varies from year to year, as firms merge, get acquired, or add or drop funds. FYI: After a tumultuous few weeks in the markets, the steady income offered by yield-focused investments looks very attractive. Making sure that the MFS culture stays consistent but current “is actually my most important and primary job,” he says. (JPM). To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com. August 26, 2019, 5:00 PM EDT ... Fast forward to now, and Singapore-based Vanda is the world’s best performing hedge fund this year, Eurekahedge Pte data show, up 278% through July. These are truly the 5 Principal Global Investors are all about specificity—multimanager boutiques in which autonomous teams cultivate their own cultures and investment strategies. Shrewd strategies like these will continue to win new assets. It also gave Guy Pope and his co-managers of $10 billion For the best Barrons.com experience, please update to a modern browser. That was certainly good news for index investors, who went along for the ride. So it would be 37.5 times 0.354, which equals 13.28. But it’s a high bar for active managers, most of whom still struggle to beat their benchmarks. “The most important thing you can do before you bring someone into the organization is to ensure that they sync up with the culture,” says Roberge, whose nearly 25-year tenure with MFS is indicative of the firm’s 1% voluntary turnover. “I don’t know of anyone who has developed an algorithm to replace active management’s decisions,” Kreuzkamp says of the firm’s recent decision to take a 25% stake in Arabesque, a company that uses artificial intelligence and other technologies for stock-picking among sustainable companies. Typically, half the funds on Barron’s Top 100 Hedge Funds, which is based on trailing three-year annualized returns, run less than $1 billion. The hedge fund team at the $30 billion Employees Retirement System of Texas “believes in the merit of proven, smaller, institutional-caliber managers to help potentially achieve long-term investment goals,” says Panayiotis Lambropoulos, a portfolio manager in the group. Aylward, CEO of Virtus Investment Partners, agrees that culture is the secret sauce. 3 DWS, and No. Over in fixed income, the team behind the $6.5 billionVirtus Newfleet Multi-Sector Short Term Bond fund (NARAX) thrives on a collegial culture; sector experts make collective decisions across multiple portfolios. (PQIAX) to benchmark-beating 28.7% returns. The cover story in this weekend's Barron's features the results of the latest ranking of the best mutual fund families. 1. (MA). Top 20 Best Performing Hedge Funds This list shows the best hedge funds based on their annualized 3-year return, using a weighted portfolio of their top 20 holdings over this period. Other notable, though consistent, absences are Janus Henderson and Dodge & Cox. The United States Hedge Fund List has 35 categories of detailed information on 2,600+ hedge funds in the US, including the top 100 largest US hedge funds above. It was a similar story in fixed income. Industry underperformance will keep the heat on hedge funds, even those on our list. He says, “High valuations have driven us into special situations.” TCI has utilized merger arbitrage, owning targets We've detected you are on Internet Explorer. (GET.France). MMCAP follows the $390 million EQMC, a Madrid-based fund that led the pack in 2017. Its $459 billion in assets are run by 14 specialized teams, working on different asset classes and in various global cities. One of the largest members of its U.S. lineup of 42 funds, $4 billion The category weightings for the one-year results in 2019 were general equity, 35.4%; mixed asset, 21.1%; world equity, 17%; taxable bond, 21.8%; and tax-exempt bond, 4.6%. Overall, the average hedge fund gained 10.36%, according to BarclayHedge, far behind the 21.82% of the Standard & Poor’s 500 index. (SUWAX), straddles those worlds with a quantitative model that sorts the Russell 1000 universe into 35 custom industry groups and ranks them based on a handful of factors. Evie Liu contributed research to this article. And that’s how small money managers become bigger money managers. returned 31%, international markets climbed more than 20%, corporate bonds soared 14%, and even Treasuries gained nearly 8%. Adage Capital Management. EQMC is ramping up its staff. The shop with the highest total score wins. (PSGAX). For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. That’s why we calculate returns before any 12b-1 fees are deducted. “ Element Capital. Atlantia ”. “With the competitive environment being created from the passive world, the active managers that are going to be successful on a long-term basis are those that are truly different and can truly stand out in a crowd,” says Virtus CEO George Aylward, adding that the multi-boutique approach offers investors the best of both worlds: specialization under the banner of a single firm that can do many things well. The firm expects a lift from the European Commission’s new brokerage-research rules, which probably will reduce research of small- and mid-cap companies. 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