JANA, Greenlight Ride Trump Wave In November; Renaissance, Third Point Funds Dip

Dec 2 2016 | 10:35pm ET

A number of well-known hedge funds were able to harness the strong market reactions to Donald Trump’s surprise election victory to post November gains, although not all were able to best benchmark equity indices for the month. 

Barry Rosenstein’s activist fund JANA Partners returned 2.2% for the period, one of its best months of the year to date and bringing its YTD tally into the green at 1.4%, according to Reuters.

David Einhorn’s Greenlight Capital, meanwhile, booked 1.9% for November and is ahead 7.7% for the year. In comparison, the S&P 500 was up 3.6% for the month and has gained 7.2% so far in 2016.

Other early returns include Whitney Tilson's Kase Capital, which gained 7.5% in November on strength in Fannie Mae, while the institutional equities fund at Jim Simons’ Renaissance Technologies lost 1.7% for November, pulling its YTD return down to 14.8%, and Daniel Loeb's Third Point Partners slipped 0.2% to bring its YTD performance to 7.4%.

In comparison, Hedge Fund Research’s HFRX Global Hedge Fund Index, a benchmark index for hedge fund performance, was up 0.87% in November and has gained 1.63% for the year to date. 

In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...


CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...