Cold Weather has Hedge Funds Hot for Gas

With the Northeast and Midwest, as well as parts of the west, experiencing below average temperatures, hedge funds are raising their bets on natural gas. Net-long positions on natural gas were up 27.5% for the week ending January 15 according to the CFTC. Gas prices are up 17% since January 2nd and weather forecasts are predicting below normal temperatures for the last week of January.

Natural gas prices slid 1.5 percent in New York on Jan. 8 on speculation that mild weather would curtail heating demand, leaving stockpiles near a seasonal record. The futures then fell to a 15-week low on Jan. 9 as forecasts turned warmer for the eastern and central U.S. through Jan. 18.

U.S gas production in 2013 will average an all- time high of 69.84 billion cubic feet a day, up 0.4 percent from 69.59 billion estimated in December, the Energy Information Administration said Jan. 8 in its monthly Short-Term Energy Outlook. Supplies may climb 0.9 percent from last year, according to the EIA, an arm of the Energy Department.

Source: Financial Post

2013 - Top 50 US Hedge Funds

The top 50 hedge funds in the US manage in excess of $800 billion in assets. Bridgewater heads the list of the largest US hedge funds for 2013, followed by JP Morgan, and Paulson & Co. 40 of the top 50 hedge funds in the US had more than $10 billion in AUM beginning 2013.

Top 50 US Hedge Funds 2013:

Hedge Fund	City	State	AUM
Bridgewater Associates	Westport	CT	$75.2 billion
JP Morgan Alternative Investments	New York	NY	$49.5 billion
Paulson & Co.	New York	NY	$35.2 billion
Wellington Management Company LLP	Boston	MA	$32.4 billion
Och-Ziff Capital Management	New York	NY	$30.3 billion
BlackRock Investment Management Australia	New York		$29.1 billion
Baupost Group	Boston	MA	$23.1 billion
Angelo Gordon & Co.	New York	NY	$22.1 billion
AQR Capital Management	Greenwich	CT	$21.65 billion
Renaissance Technologies	East Setauket	NY	$20.6 billion
Farallon Capital Management	San Francisco	CA	$19.6 billion
King Street Capital Management	New York	NY	$18.8 billion
Lone Pine Capital	Greenwich	CT	$18.5 billion
Elliott Management	New York	NY	$18.1 billion
Goldman Sachs Asset Management	New York	NY	$17.5 billion
DE Shaw	New York	NY	$17.4 billion
Two Sigma Investments	New York	NY	$17 billion
Convexity Capital Management	Boston	MA	$16.85 billion
GoldenTree Asset Management	New York	NY	$16.75 billion
Sankaty Advisors	Boston	MA	$16.4 billion
Adage Capital Management	Boston	MA	$15.9 billion
Moore Capital Management	New York	NY	$15.6 billion
Eton Park Capital Management	New York	NY	$15.4 billion
Marathon Asset Management	New York	NY	$15.2 billion
Tudor Investment Corporation	Greenwich	CT	$13.6 billion
Canyon Capital Advisors	Los Angeles	CA	$13.5 billion
Citadel Investment Group	Chicago	IL	$13 billion
5:15 Capital Management	Greenwich	CT	$13 billion
Avenue Capital Group	New York	NY	$12.6 billion
York Capital Management	New York	NY	$12.5 billion
Davidson Kempner Capital Management	New York	NY	$12.25 billion
Appaloosa Management	Chatham	NJ	$12 billion
Anchorage Capital Group	New York	NY	$11.5 billion
Mesirow Advanced Strategies	Chicago	IL	$11.1 billion
Grantham, Mayo, Van Otterloo & Co.	Boston	MA	$11 billion
EMF Financial	New York	NY	$11 billion
Maverick Capital	Dallas	TX	$10.8 billion
Aurora Investment Management	Chicago	IL	$10.3 billion
Highfields Capital Management	Boston	MA	$10.24 billion
Pershing Square Capital Management	New York	NY	$10.2 billion
Element Capital Management	New York	NY	$9.8 billion
Alliance Bernstein Institutional	New York	NY	$9.5 billion
Caxton Associates	New York	NY	$9.45 billion
Taconic Capital Advisors	New York	NY	$9.4 billion
Anchorage Advisors	New York	NY	$9.3 billion
Magnetar Capital	Evanston	IL	$9.1 billion
Lighthouse Investment Partners	Palm Beach Gardens	FL	$8.65 billion
Gresham Investment Management	New York	NY	$8.5 billion
Concordia Advisors	New York	NY	$8.4 billion
Brookside Capital	Boston	MA	$8.22 billion

View more of the top 100 US hedge funds

Source: Hedge Lists

2013 - Top 20 Swiss Hedge Funds

BlueCrest Capital Management remains atop the list of the largest hedge funds in Switzerland for 2013. Below are the Top 20 hedge funds in Switzerland based on assets under management as of January, 2013.

Hedge Fund	City	AUM (USD)	Strategies
BlueCrest Capital Management	Geneva	$28.8 billion
UBS Alternative Investment Solutions	Zurich	$27.3 billion	Fund of Funds
Unigestion SA	Geneva	$12.6 billion	Fund of Funds
CQS Switzerland	Geneva	$10.5 billion
Credit Suisse Alternatives	Zurich	$10.25 billion	Fund of Funds
Banca del Ceresio	Lugano	$10.22 billion	Fund of Funds
Gerifonds	Lausanne	$9.3 billion	Fund of Funds
Pictet Alternative Investments	Geneva	$8.94 billion	Fund of Funds
Lombard Odier Darier Hentsch & Cie	Geneva	$8.54 billion	Fund of Funds
Gottex Fund Management	Luausanne	$7.845 billion	Fund of Funds
Arden Asset Management	Zurich	$7.5 billion	Fund of Funds
EIM Group	Nyon	$7.2 billion	Fund of Funds
Cevian Capital	Pfäffikon	$7.1 billion
Clariden Leu	Zurich	$6.8 billion	Fixed Income
Cheyne Capital	Wollerau	$6.45 billion	Convertibles
Premium Currency Advisors	Zurich	$6.335 billion	FX
Harcourt Investment Consulting	Zurich	$4.92 billion	Fund of Funds
Jabre Capital Partners	Geneva	$4.86 billion	Multi Strategy
Notz Stucki	Geneva	$4.7 billion	Fund of Funds
Sciens Asset Management	Zurich	$4.64 billion

View more of the top hedge funds in Switzerland

Source: Hedge Lists

2013 - Top 40 UK Hedge Funds

The list of the top 40 hedge funds in the United Kingdom as of January, 2013 is headed by TPG Capital ad Man Group. Brevan Howard Asset Management also remains among the largest UK hedge funds in 2013. Below is a list of the Top 40 UK hedge funds 2013:

Note: See the updated list of the Top 50 UK Hedge Funds 2017 

Top 40 UK Hedge Funds:

Hedge Fund	Location	AUM (USD)	Strategies
TPG Capital	London	$54.2 billion
Man Group	London	$51.5 billion	Global Macro
GMO UK	London	$39 billion
Brevan Howard Asset Management	London	$38.6 billion	Global Macro
Och-Ziff Management Europe	London	$32.1 billion
Coronation Fund Managers	London	$30.26 billion
BlackRock Investment Management UK	London	$29.1 billion	Global Macro
Winton Capital Management	London	$29 billion	Managed Futures
GLG Partners	London	$26.4 billion	Multi Strategy
Highbridge Capital Management	London	$25.5 billion	Absolute Returns
Gartmore Investment Management	London	$22.7 billion	Long/Short
Aerion Fund Management	London	$21.85 billion	Fund of Funds
Barclays Global Investors	London	$20.25 billion	Global Macro
Lansdowne Partners	London	$13.64 billion	Absolute Returns
Capula Investment Management LLP	London	$13 billion	Arbitrage
CQS Investment Management Limited	London	$10.5 billion	Convertibles
Thames River Capital	London	$9.4 billion	Long/Short
Henderson Global Investors	London	$8.5 billion	Global Macro
Polygon Investment Partners	London	$8.4 billion	Convertibles
Aspect Capital	London	$7.28 billion	Long/Short
Fauchier Partners	London	$7 billion	Absolute Returns
The Children's Investment Fund Foundation	London	$7 billion	Long/Short
Silver Creek Capital Management	London	$6.89 billion	Fixed Income
HSBC Alternative Investments	London	$6.5 billion	Multi Strategy
Cheyne Capital	London	$6.45 billion	Real Estate
Cazenove Capital Management	London	$5.8 billion	Fund of Funds
Old Mutual Asset Managers	London	$5.25 billion	Asian Equity
Marshall Wace	London	$5.23 billion	Global Macro
Clive Capital	London	$5.02 billion	Commodities
Sloane Robinson	London	$4.9 billion	Long/Short
Baring Asset Management	London	$4.7 billion	Fund of Funds
Sciens Asset Management	London	$4.64 billion	Fund of Funds
Polar Capital Partners	London	$3.88 billion	Long/Short
Egerton Capital	London	$3.67 billion	Long/Short
Arrowgrass Capital Partners	London	$3.46 billion	Convertibles
Spinnaker Capital	London	$3.4 billion	Emerging Markets
Lombard Odier Darier Hentsch	London	$3.2 billion
BlueBay Asset Management	London	$2.975 billion	Managed Futures
Odey Asset Management	London	$2.95 billion	Absolute Returns

 View more of the largest UK hedge funds

Source: Hedge Lists

Small Hedge Funds Outperform Large Funds in 2012

Returning only 6% in 2012, it was not a great year for hedge funds, particularly vis a vis the broader stock market which returned 13% for the year. However, a number of small hedge funds did have more success than their larger peers. There were a number of hedge funds with assets under $1 billion that had very good years. These funds include Mudrick Capital, Suvretta Capital Management, and Grandmaster Capital (all of which returned close to 20% or better). 400 Capital Management, which has $560 million in AUM, returned north of 30% in 2012. It should be noted that Mudrick Capital was founded by former Contrarian Capital manager. Contrarian Capital returned 24.4%.

It remains to be seen whether smaller, possibily more nimble, hedge funds will be able to outperform their peers in 2013.

Source: Arab News

2013 - Top 50 European Hedge Funds

There has been some shift, albeit it minor, in the list of the top 50 hedge funds in Europe from 2012 to 2013. Below is a list of the largest hedge funds in Europe as of January, 2013.

Hedge Fund	City	Country	AUM (USD)	Strategies
Man Group	London	United Kingdom	$51.5 billion	Global Macro
GMO UK	London	United Kingdom	$39 billion
Brevan Howard Asset Management	London	United Kingdom	$38.6 billion	Global Macro
Och-Ziff Management Europe	London	United Kingdom	$32.1 billion
Coronation Fund Managers	London	United Kingdom	$30.26 billion
BlackRock Investment Management UK	London	United Kingdom	$29.1 billion	Global Macro
Winton Capital Management	London	United Kingdom	$29 billion	Managed Futures
BlueCrest Capital Management	Geneva	Switzerland	$28.8 billion
UBS Alternative Investment Solutions	Zurich	Switzerland	$27.3 billion	Fund of Funds
GLG Partners	London	United Kingdom	$26.4 billion	Multi Strategy
Highbridge Capital Management	London	United Kingdom	$25.5 billion	Absolute Returns
Gartmore Investment Management	London	United Kingdom	$22.7 billion	Long/Short
Aerion Fund Management	London	United Kingdom	$21.85 billion	Fund of Funds
Barclays Global Investors	London	United Kingdom	$20.25 billion	Global Macro
Lyxor Asset Management	Paris	France	$19.5 billion	Convertibles
Danske Capital	Copenhagen	Denmark	$15.5 billion	European Equity
Brummer and Partners	Stockholm	Sweden	$14.2 billion	Long/Short
Lansdowne Partners	London	United Kingdom	$13.64 billion	Absolute Returns
Capula Investment Management LLP	London	United Kingdom	$13 billion	Arbitrage
Unigestion SA	Geneva	Switzerland	$12.6 billion	Fund of Funds
Amundi Alternative Investments	Paris	France	$11 billion	Fund of Funds
CQS Switzerland	Geneva	Switzerland	$10.5 billion
CQS Investment Management Limited	London	United Kingdom	$10.5 billion	Convertibles
Credit Suisse Alternatives	Zurich	Switzerland	$10.25 billion	Fund of Funds
Thames River Capital	London	United Kingdom	$9.4 billion	Long/Short
Transtrend	Rotterdam	Netherlands	$9.04 billion	Managed Futures
Henderson Global Investors	London	United Kingdom	$8.5 billion	Global Macro
Polygon Investment Partners	London	United Kingdom	$8.4 billion	Convertibles
Aspect Capital	London	United Kingdom	$7.28 billion	Long/Short
IPM	Stockholm	Sweden	$7.212 billion	Global Macro
Cevian Capital	Stockholm	Sweden	$7.1 billion	Value
Fauchier Partners	London	United Kingdom	$7 billion	Absolute Returns
The Children's Investment Fund Foundation	London	United Kingdom	$7 billion	Long/Short
Silver Creek Capital Management	London	United Kingdom	$6.89 billion	Fixed Income
Dexia Asset Management	Paris	France	$6.71 billion	Fixed Income
HSBC Alternative Investments	London	United Kingdom	$6.5 billion	Multi Strategy
Cheyne Capital	London	United Kingdom	$6.45 billion	Real Estate
Exane Asset Management	Paris	France	$5.84 billion	Long/Short
Cazenove Capital Management	London	United Kingdom	$5.8 billion	Fund of Funds
Old Mutual Asset Managers	London	United Kingdom	$5.25 billion	Asian Equity
Marshall Wace	London	United Kingdom	$5.23 billion	Global Macro
Clive Capital	London	United Kingdom	$5.02 billion	Commodities
Sloane Robinson	London	United Kingdom	$4.9 billion	Long/Short
Jabre Capital Partners	Geneva	Switzerland	$4.86 billion	Multi Strategy
Notz Stucki	Geneva	Switzerland	$4.7 billion	Fund of Funds
Baring Asset Management	London	United Kingdom	$4.7 billion	Fund of Funds
Sciens Asset Management	London	United Kingdom	$4.64 billion	Fund of Funds
Aquila & Partners	Basle	Switzerland	$4.45 billion	Equity
Polar Capital Partners	London	United Kingdom	$3.88 billion	Long/Short

 

View more of the largest hedge funds in Europe

Source: Hedge Lists