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Photographer: Angela Weiss / AFP / Getty Images
Photographer: Angela Weiss / AFP / Getty Images
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Tiger Global Management Ranked # 1 in Global Hedge Fund Ranking and Quantitative Power Renaissance Technologies was ousted, another sign that trading conditions favored human stock selectors over algorithms.
The industry raked in $ 127 billion last year, with some of the largest companies dominated by human traders racking up record profits, according to estimates released Monday by LCH Investments, a fund of hedge funds. Chase Coleman’s Tiger Global generated $ 10.4 billion for customers, after fees, and Izzy Englander Millennium Management came next, with $ 10.2 billion.
Renaissance, founded by a billionaire mathematician Jim Simons, fell from the ranks of 20 companies after losing some of his public funds more than 30% last year. In 2019, it ranked third on LCH’s list, which focuses on managers with the most total profit since its inception and is designed to favor the largest and oldest hedge funds.
Read more: Hedge Fund Titans Hohn, Mandel direct $ 178 billion in annual profits
The rankings reflect the most important theme of a tumultuous year, with hedge funds winning or losing huge sums of money as the Covid-19 pandemic ravaged the world and central banks unleashed an unprecedented stimulus for contain the economic carnage. The greatest of all, Ray dalio Bridgewater Associates, suffered losses of $ 12.1 billion.
“Navigating the particularly volatile markets of 2020, talented individual managers with vision and flexibility outperformed programmed machines,” LCH President Rick Sopher said in a statement.
Her company’s annual survey is just one way to look at the profitability of the industry, as it can exclude newer or smaller hedge funds that have outperformed everyone in the top 20 by percentage.
The 20 managers in the ranking have overseen about 17% of global hedge fund assets and produced about 43% of the $ 1.4 trillion in profits the industry has generated since its inception, according to LCH.
Top 20 managers ranked by earnings in 2020
| Director | Net gains from the start | Earnings 2020 | Launch year |
|---|---|---|---|
| Tiger Global | 26.5 | 10.4 | 2001 |
| Millennium | 36.0 | 10.2 | 1989 |
| Lonely pine | 42.3 | 9.1 | 1996 |
| Viking | 36.6 | 7.0 | 1999 |
| Citadel | 41.8 | 6.2 | 1990 |
| BY Shaw | 37.3 | 5.4 | 1988 |
| Elliott Partners | 33.3 | 5.0 | 1977 |
| TCI | 27.0 | 4.2 | 2004 |
| Egerton | 22.6 | 3.7 | 1995 |
| Brevan Howard | 22.5 | 3.0 | 2003 |
| Farallon | 29.3 | 2.9 | 1987 |
| BAG / Point72 | 25.9 | 2.5 | 1992 |
| Och-Ziff / Sculptor | 29.8 | 2.3 | 1994 |
| Appaloosa | 28.6 | 1.9 | 1993 |
| King Street Capital | 17.6 | 1.6 | 1995 |
| Baupost | 31.3 | 1.5 | 1983 |
| Paulson & Co. * | 17.8 | -1.2 | 1994 |
| Bridgewater | 46.5 | -12.1 | 1975 |
| Soros fund management ** | 43.9 | N / A | 1973 |
| Moore Capital *** | 18.6 | N / A | 1990 |
| Top 20 managers | 615.1 | 63.5 | |
| All managers | 1422 | 127 |
NOTE: Winnings are in billions of dollars; * Until June 30, 2020; ** Until December 31, 2017; *** Until December 31, 2019. Source: LCH Investments
– With the help of Hema Parmar
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