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September 13, 2007
Quant fund returns
Computer-driven hedge funds, or “quants”, posted mixed results in August, providing investors with a mixture of hope and despair.
Some funds recovered fully, while others are stuck with most of the losses from the appalling first 10 days of the month. One of New York-based Tykhe Capital’s funds and two hedge funds from Goldman Sachs are down more than 20% for August, investors said, while funds from GMN Capital and Algert Coldiron Investors are down close to 20% for the month.
Some of the other ‘quant’ funds bounced back strongly in August, including big names such as Renaissance Technologies; 32 Capital from Barclays Global Investors; DE Shaw, part-owned by Lehman Brothers; and Highbridge Capital, owned by JPMorgan.
A handful of other quant funds, including Sushil Wadhwani’s Wadhwani Asset Management, which uses both macro and equity strategies, avoided the crisis altogether. Wadhwani ended the month down just 0.5%, hurt by the move in the yen.
-Financial Times-
Posted by su at September 13, 2007 11:52 AM