The 20 best-performing hedge fund managers of all time made $63.5bn for investors during the coronavirus-driven market turmoil in 2020, making it the industry’s best year of gains in a decade.
Despite a tough 12 months for US giants Bridgewater Associates and Renaissance Technologies, the gains highlight how some of the industry’s biggest names were able to navigate last year’s volatility, in which the S&P 500 posted its fastest descent into a bear market.
The top managers, led by funds including Chase Coleman’s Tiger Global and Izzy Englander’s Millennium Management, made half of the overall hedge fund industry’s gains last year, according to research by LCH Investments — a fund of hedge funds run by the Edmond de Rothschild Group.
Many were able to profit from opportunities thrown up in March’s sell-off and the subsequent huge rally in risky assets. In 2019, the top 20 managers made around one-third of the overall industry’s gains.
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