Key Takeaways
- • Elliott Associates LP was up 6.8% after fees and Elliott International Limited was up 6% after fees through the third quarter of 2017, according to a September 30 client update reviewed by Business Insider.
- • The average event-driven hedge fund gained 5.9% over the same period, per data tracker HFR, leaving Elliott only marginally ahead of its peer group.
- • Elliott managed $34.2 billion as of the end of Q3 2017, roughly $1 billion more than at mid-year, according to the Absolute Return Billion Dollar Club ranking.
- • The bulk of Elliott's 2017 gains came from equity-oriented strategies (+4.1% before fees) and distressed debt (+3.6% before fees).
- • The Elliott Associates fund, launched in February 1977, has delivered annualized after-fee returns of 13.4%, one of the longest track records in the industry.
Summary
Elliott Management, the $34 billion investment firm led by Paul Singer, is barely outperforming its competitors in 2017, according to a client update reviewed by Business Insider. The Elliott Associates LP fund was up 6.8% after fees and the Elliott International Limited fund was up 6% after fees through September 30, 2017. By comparison, the average event-driven hedge fund gained 5.9% over the same period, according to HFR data.
Elliott does not benchmark itself to any index, according to client notes previously reviewed by Business Insider. Using HFR industry indices as a proxy for funds pursuing similar strategies, the Event Driven Activist Index returned 4.8%, Event Driven Distressed Restructuring returned 4.4%, and Event Driven Multistrategy returned 5.4% year to date through September 30.
The firm deploys multiple strategies, spanning real estate, private equity, distressed restructuring and activism. Business Insider reported that the bulk of 2017 gains came from its equity-oriented strategy, up 4.1% before fees, and distressed debt, up 3.6% before fees. Elliott managed $34.2 billion at the end of the third quarter, a billion more than at mid-year, per the Absolute Return Billion Dollar Club ranking.
Elliott retains a strong long-term record. The Elliott Associates fund, which launched in February 1977, has posted annualized after-fee gains of 13.4%. The firm, known for high-profile campaigns including the Argentine debt dispute and more recently Arconic, declined to comment on the figures.
Elliott does not benchmark itself to any index, according to client notes previously reviewed by Business Insider. Using HFR industry indices as a proxy for funds pursuing similar strategies, the Event Driven Activist Index returned 4.8%, Event Driven Distressed Restructuring returned 4.4%, and Event Driven Multistrategy returned 5.4% year to date through September 30.
The firm deploys multiple strategies, spanning real estate, private equity, distressed restructuring and activism. Business Insider reported that the bulk of 2017 gains came from its equity-oriented strategy, up 4.1% before fees, and distressed debt, up 3.6% before fees. Elliott managed $34.2 billion at the end of the third quarter, a billion more than at mid-year, per the Absolute Return Billion Dollar Club ranking.
Elliott retains a strong long-term record. The Elliott Associates fund, which launched in February 1977, has posted annualized after-fee gains of 13.4%. The firm, known for high-profile campaigns including the Argentine debt dispute and more recently Arconic, declined to comment on the figures.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.