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From Kirsten Bischoff, Opalesque New York: In December, Opalesque looked at the asset raising environment for hedge funds boasting positive performance in 2008 (see previous article: here). The environment did (and still does) look bleak as the combination of jitters from the Madoff fraud and the need to fund other portions of portfolios has investors raiding even their positive hedge fund investments.

However, as we learned in 2008 exceptions to every circumstance abound. Take for instance, quant firm Richmond Group. Quant hedge funds took the earliest hits in the credit crisis as jittery investors began to doubt the strategy after August 2007 saw many quants take severe tumbles. But Richmond Group may provide a glimmer of hope for those looking to raise assets in 2009.

Like many quant funds who managed to perform well through this time, Richmond still saw an investor pullback in late 2007 and early 2008. But positive performance grew in 2008 as the firm was well positioned for the outlier and profits actually accelerated as the year went on. With year-end performance at +42% in their global macro (diversified) fund and +18% in the global currency program the firm is now in the process of cycling back up through the $100m asset mark.

Staying contrarian in 2009 Being contrarian through 2008 allowed Richmond’s trading mod......................

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