Markets have been absolutely brutalized in the first two weeks of 2016 with stocks getting slammed and oil hitting a 14-year low below $30 a barrel.
The year is already shaping up to be another challenging one for the hedge funds.
So far, the average hedge fund is down 2.04% through January 13, according to data from Hedge Fund Research.
To put it in perspective, the average fund finished 2015 down 3.49%, according to HFR.
There have, however, been a few standout hedge funds in the first two weeks of trading.
Below are the top five performers, according to performance data compiled by HSBC.
- Horseman Global Fund USD (Russell Clark and Bobby Turnbull): Horseman’s $867 million global equity/diversified fund is up 10.49% through January 13, according to HSBC. Horseman Global was one of the top 20 best performers in 2015, ending the year up 20.42%
- Conquest Macro Fund LTD (Marc Malek): The $206 million macro fund is up 10.2% through January 13. The fund ended 2015 up 2.28%.
- Roy. G. Niederhoffer Diversified Offshore Fund (Roy Niederhoffer): The $707 million quant fund is up 8.9% through January 13, according to HSBC. The fund finished 2015 up 4.32%.
- Eagle Global (Menachem Sternberg): The $44 million quant fund is up 6.31% through January 8, according to HSBC. The fund fell 9.55% in 2015.
- Boronia Diversified Fund Master (Richard Grinham and Angus Grinham): The $53 million quant fund is up 5.53%, according to HSBC. The fund fell 4.54% in 2015.
It’s a marathon, not a sprint. Anything can happen in the next 12 months.