The world’s elite hedge funds have delivered a staggering $67 billion to their investors in 2023, as reported by LCH Investments on Monday. This figure marks a significant triple increase from the previous year’s returns.
Bill Ackman‘s Pershing Square Capital Management made a grand re-entry into the top 20, following an absence of eight years. Despite the overall sector’s success, Bridgewater Associates, steered by the legendary billionaire Ray Dalio, and Caxton faced a downturn, marking them as the sole two in the top 20 to report losses.
The upper range of fund managers enjoyed an average uptick of 10.5% last year, outperforming the general industry average of 6.4%, according to LCH data.
This success story is part of a broader narrative where hedge fund managers collectively accrued $218.0 billion in 2023, bringing the net gains since the industry’s inception to a monumental $1,638 billion.
Over the last three years, these top 20 managers have been responsible for 83% of the gains achieved by the entire hedge fund industry. This dominance reflects not only a capacity to hedge against market volatility but also an aptitude for capitalizing on favorable market conditions.
Rick Sopher, the Chairman of LCH Investments NV, attributed the success of these top-performing managers to their “ability to limit the downside in adverse conditions and to make money when conditions are favorable.” This skill set was particularly evident toward 2023’s end, underscoring a long-standing tradition of above-average performance spanning decades.
In 2023, the Global X Guru ETF (NYSE:GURU), which invests in highest conviction ideas from a select pool of hedge funds, returned 18.6%, underperforming compared to the SPDR S&P 500 ETF Trust (NYSE:SPY)’s 24.3% gain.
Top 20 Global Hedge Fund Managers In 2023
TCI Fund Management, led by the London-based activist and billionaire Sir Christopher Hohn, reaped a substantial $12.9 billion for investors, topping the full-year 2023 ranking.
Chasing closely in second is billionaire Ken Griffin, the CEO of Citadel LLC, who has secured $8.1 billion in net gains for the year. Citadel stands out at the first place of the top 20 for aggregate returns since inception, amassing a total net profit of $74 billion.
The third place is captured by Ole Andreas…
Click Here to Read the Full Original Article at Cryptocurrencies Feed…
