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Alternative Market Briefing

Symmetric releases first quarter hedge fund manager skill rankings

Thursday, February 18, 2016

Bailey McCann, Opalesque New York:

New York-based Symmetric has come out with its first quarter rankings of hedge fund managers that generated StockAlpha. StockAlpha is a proprietary measurement that ranks managers on their ability to pick individual stocks instead of providing rankings based on quarterly returns.

For the first quarter of 2016, the top ten hedge fund firms for generating StockAlpha were: Cedar Rock Capital; Echo Street Capital Management; Highfields Capital Management; Third Point; EMS Capital; Masters Capital Management; Endicott Management Company; Trian Fund Management; Hillhouse Capital Management, and H Partners Management.

Of the ten, only three managed to stay on the list from the prior quarter - Trian Fund Management, EMS Capital and Echo Street. Tech stocks helped the top performers stay on the list with StockAlpha from positions in Google, Netflix and Facebook, among others.

For managers to stay on the list they must have a positive start to the year and not many did. Baker Brothers, Viking Global, Whale Rock and SPO Advisory all fell off the list as a result of January's volatility. The choppy market appears to to have had a significant impact on overall performance for those funds, according to the report - "not only did their positions decline, they underperformed on a market, sector and beta adjusted basis." That underperformance also impacted their previously positive twelve and thirty-six month track records. ......................

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