Tags: hedge | funds | gains | big | viking | renaissance | investor

Hedge Funds From Viking to Renaissance Said to Report Big Gains

Hedge Funds From Viking to Renaissance Said to Report Big Gains
(Dollar Photo Club)

Monday, 07 August 2017 12:40 PM

Rallying stock markets are helping lift returns at mega-hedge funds including Viking Global Investors and Renaissance Technologies.

Andreas Halvorsen’s Viking and an equity-focused quantitative fund at Renaissance are up more than 9 percent this year through July, according to person with knowledge of the matter and an investor document seen by Bloomberg News. Ken Griffin’s main Wellington and Kensington funds at Citadel rose almost 7 percent.

Investors are benefiting as strong job growth and corporate earnings push stocks to records. The S&P 500 index is up 12 percent this year through July. More than 70 percent of companies in the measure reported positive earning surprises last quarter, according to data compiled by Bloomberg. U.S. investors have also shrugged off turmoil in Washington and signs that President Donald Trump’s policy agenda has stalled.

July was the market’s best month since February, with the S&P 500 returning 2.1 percent. The Renaissance Institutional Equities Fund, known as RIEF, trailed the index, gaining 1.2 percent for a year-to-date return of 9.1 percent. New York-based Renaissance had $42 billion under management as of June. Viking, which oversees $32 billion and is headquartered in Greenwich, Connecticut, posted gains of 2.1 percent last month and 9.3 percent in 2017.

Spokesmen for the firms declined to comment.

Citadel’s Units

Citadel’s flagship funds, which trade across asset classes, were up 2.3 percent last month and 6.8 percent this year. The $27 billion firm’s Global Equities and Surveyor units produced most of the stock gains with long and short trades, one of the people said.

Citadel’s Global Equities fund rose 1.3 percent in July, extending its year-to-date advance to 4.2 percent, the person said. The Chicago-based firm’s Tactical Trading Fund, which uses equities and quantitative strategies, rose 3 percent in July and 4.9 percent this year.

The results mark a turnaround for two of the managers. Last year was Viking’s worst and Citadel’s third-worst on record. Renaissance’s RIEF, meanwhile, surged 22 percent in 2016, almost double the market’s gain.

Read more, click here: Trump rally propels hedge funds to best start since 2013

© Copyright 2019 Bloomberg News. All rights reserved.

   
1Like our page
2Share
InvestingAnalysis
Rallying stock markets are helping lift returns at mega-hedge funds including Viking Global Investors and Renaissance Technologies.
hedge, funds, gains, big, viking, renaissance, investor
343
2017-40-07
Monday, 07 August 2017 12:40 PM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved