It should come as no surprise to anyone following hedge fund trials and tribulations of the past year that Goldman Sachsâ Global Alpha Fund was the clear loser in 2007. Financial News reports that the -39% loss record last year nearly erased the total 46% in gains from 2005 and 2006. The closest any HF came to achieving that dubious distinction is Blue Sky Japanâs similarly named offering, which closed out the year at -31%. Rounding out the far from fabulous five are Odey Asset Managementâs Japan & General Fund (-26%), Drake Managementâs Global Opportunities Fund (-23%) and GMNâs GMN Capital (-19%), which closed at the end of the year. On the sunnier side of the standings, according to FN, Harbinger Capital Partners soared 111%, followed by 788 Asset Managementâs 788 China Fund (+104%), Gartmoreâs AlphaGen Tenro (+57%), Sandler Capital Management (+53%) and Odeyâs European Inc. (+52%). It is not clear why FN did not include the Paulson & Co. funds, at least one of which reportedly ended 2007 up in the hundreds of percentage points. Investors and industry pros alike are still waiting to see if 2007 overall matched the 13% gains of the year before. According to the paper, returns from seven data providers to issue estimates have ranged between 8.9% and 12.04% through Nov. 30, with Hedge Fund Research estimating its investable index slid -0.07% in December, which would seem to dash hopes for a repeat of 2006.
http://www.emii.com/Article.aspx?ArticleID=1849486&LS=EMS156240
http://www.emii.com/Article.aspx?ArticleID=1849486&LS=EMS156240
