Complete 2013 Year To Date Hedge Fund Performance

Tyler Durden's picture

Today, Bloomberg took hedge funds to task with a rather graphic cover, suggesting the hedge fund community doesn't actually provide value. We disagree: hedge funds certainly can provide value (especially those who are too big to fail, syphon inside information, and whose army of lawyers makes them untouchable to government prosecution) if only to their LPs and other investors, however not in an environment where none other than the central bank's task is to manage risk. Which explains why for the fifth year in a row, or roughly since when Bernanke became the world's biggest and most important portfolio manager, hedge funds have underperformed the S&P.

And with the Fed's "performance" now inextricably linked to that of the S&P (i.e., a market crash simply cannot be allowed without a concurrent collapse of faith in the Fed and thus the reserve currency and from there, the fiat system) hedge funds, whose job is to do what the Fed now does, i.e., hedge downside risk, will have an increasingly more difficult.

The latest, June, HSBC hedge fund performance data merely confirms what we have shown on a monthly basis: the vast majority of hedge funds continue to underperform the S&P. The sorted table below shows that of the 32 or so marquee HF names, only 4 are outperforming the S&P YTD while 28 are doing worse.

The HSBC tracked top and bottom 20:

And the full report:

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suteibu's picture

Drawing about as much interest as an American looking at Cricket standings.

flacon's picture

Sell this rally in the markets.

bania's picture

I like that S&P Hedge Fund a lot, over time they seem to consistently beat the others.

Anyone have any details on them?

prains's picture



S = Sugar Daddy

P = Print


they have the inside track 

wisehiney's picture

Art Cashin said "There's enough blood in hedge fund alley to cater Dracula's daughters wedding."

Sixdeuce062's picture

dude why isnt paulson's fund performing? he totally on top of everything    Sarc/ off


AustrianJim's picture

They need to ring up their buddy Bernanke and say "Hey Ben, enough of this already!"

medium giraffe's picture

-3.49%. Commodity only, lost $400m on oil alone.  Outstanding.

Pedantic Rube's picture

Don't forget about the behemoth QFR (EM macro) down 12% (20% since May 15th)

mutty's picture

Hedge Funds: Proof that rich people are just as stupid as poor people.

Come for the high fees, stay for the underperformance.


Pedantic Rube's picture

Says the guy who probably invested in Paulson Gold Fund

Pedantic Rube's picture

Says the guy who probably invested in Paulson Gold Fund

Cacete de Ouro's picture

Surely that should be the Paulson Disadvantage and Paulson Disadvantage Minus funds....

pndr4495's picture

Once again I did not see Astenbeck among the funds reviewed. Whyso?