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Alternative Market Briefing

Little-known hedge funds outperform giants this year

Tuesday, December 23, 2014

Komfie Manalo, Opalesque Asia:

Little-known hedge funds provided the biggest gains in 2014, beating their much larger giant counterparts, according to research firm Simplify.

Mumbai-based Hiren Ved's $53m long-short equity fund Alchemy Capital Management registered the highest returns at 63% through November. Next came two San Francisco-based funds: Oleg Nodelman's $206m long-short equity fund EcoR1 Capital Fund gained 62.25% while Kurt von Emster and Behzad Aghazadeh's $182m venBio Select Fund expanded 61.8% during the same period, according to the report.

Other small and least-known players who made it to Simplify’s top list include Paul Mulvaney's $198m Mulvaney Global Diversified Program (+53%) and Darren Upton's $660m ISAM Systematic Fund (+48%). However, one big player made it on the top list as well: William Ackman's $18bn Pershing Square Capital Management surged 38.6% for one of its portfolios with exposure to Allergan Inc.

Simplify founder Brian Shapiro said the top performing hedge funds were mostly stock pickers, activists and those who rely on computer models for trading. He said, "There isn't one unifying theme to this year's top performing funds. But big or small, these guys really earned their fees this year."

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