Key Takeaways
- • Mudrick Capital Management posted 38.9% returns in 2016 for its Distressed Opportunity Fund, significantly outperforming the 5.43% average hedge fund return, earning finalist status for Credit-Focused Hedge Fund Manager of the Year alongside BlackGold Capital Management, Brigade Capital Management, Contrarian Capital Management, and Strategic Value Partners.
- • Citadel secured dual finalist nominations: Institutional Hedge Fund Manager of the Year and Macro Hedge Fund Manager of the Year, competing against elite firms including Two Sigma Investments, Baupost Group, CQS, and Angelo, Gordon & Co. in the institutional category.
- • Rokos Capital Management, a London-based firm in its first full year of operation, delivered 20% returns in 2016 and qualified as a finalist for both Emerging Hedge Fund Manager of the Year and Macro Hedge Fund Manager of the Year, contrasting sharply with its alma mater Brevan Howard's 3% flagship fund performance.
- • Institutional Investor and Institutional Investor's Alpha magazine finalists were selected through a rigorous review process, with award winners to be announced June 21.
Summary
The 2017 Institutional Investor Hedge Fund Industry Awards recognized standout performers from a challenging 2016 for the broader hedge fund sector. While the industry averaged 5.43% returns according to the HFRI Fund Weighted Composite index, several managers delivered exceptional results that earned finalist recognition across multiple categories.
Jason Mudrick's Mudrick Capital Management exemplified this outperformance in the credit space, rebounding from a difficult 2015 to achieve 38.9% returns in its Distressed Opportunity Fund. This seven-fold outperformance versus industry average secured Mudrick a finalist nomination for Credit-Focused Hedge Fund Manager of the Year, competing against established peers BlackGold Capital Management, Brigade Capital Management, Contrarian Capital Management, and Strategic Value Partners.
Citadel emerged as one of the awards' most prominent contenders, earning finalist positions in both the Institutional Hedge Fund Manager of the Year and Macro Hedge Fund Manager of the Year categories. In the institutional category, Citadel competed against Two Sigma Investments, Baupost Group, CQS, and Angelo, Gordon & Co. For the macro category, its competitors included Caxton Associates, Discovery Capital Management, Graham Capital Management, and Chris Rokos's Capital Management.
Rokos Capital Management, a London-based operation, demonstrated remarkable first-year performance with 20% returns in 2016, earning dual finalist honors for both Emerging Hedge Fund Manager of the Year—reserved for firms operating five years or less—and Macro Hedge Fund Manager of the Year. This performance trajectory contrasted markedly with Brevan Howard Asset Management, Rokos's former employer, which returned only 3% in its flagship fund for the same period.
Institutional Investor and Alpha magazine selected finalists through a rigorous review process. Award winners were scheduled for announcement on June 21.
Jason Mudrick's Mudrick Capital Management exemplified this outperformance in the credit space, rebounding from a difficult 2015 to achieve 38.9% returns in its Distressed Opportunity Fund. This seven-fold outperformance versus industry average secured Mudrick a finalist nomination for Credit-Focused Hedge Fund Manager of the Year, competing against established peers BlackGold Capital Management, Brigade Capital Management, Contrarian Capital Management, and Strategic Value Partners.
Citadel emerged as one of the awards' most prominent contenders, earning finalist positions in both the Institutional Hedge Fund Manager of the Year and Macro Hedge Fund Manager of the Year categories. In the institutional category, Citadel competed against Two Sigma Investments, Baupost Group, CQS, and Angelo, Gordon & Co. For the macro category, its competitors included Caxton Associates, Discovery Capital Management, Graham Capital Management, and Chris Rokos's Capital Management.
Rokos Capital Management, a London-based operation, demonstrated remarkable first-year performance with 20% returns in 2016, earning dual finalist honors for both Emerging Hedge Fund Manager of the Year—reserved for firms operating five years or less—and Macro Hedge Fund Manager of the Year. This performance trajectory contrasted markedly with Brevan Howard Asset Management, Rokos's former employer, which returned only 3% in its flagship fund for the same period.
Institutional Investor and Alpha magazine selected finalists through a rigorous review process. Award winners were scheduled for announcement on June 21.
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