UK hedge funds crack elite list of performers

Michael Bow
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TWO of the UK’s biggest hedge funds have rolled back the US dominance of the industry to creep into the top five best performing hedge funds in the world, a poll shows.

Funds run by CQS, led by founder Michael Hintze, and Odey Asset Management, Crispin Odey’s Mayfair based outfit, have both cracked the top five of a list of the world’s 100 best performing funds, having turned around their fortunes last year to deliver returns nudging 30 per cent.

CQS’s multistrategy Directional Opportunities fund, run by Hintze, managed a total return figure of 28.9 per cent for the year ending October 2012, flipping a poor -10.4 per cent loss made the year before.

This made it the third best performing fund globally last year.

Odey’s £1.8bn Odey European fund also had a reversal in fortunes, taking a -20 per cent return in 2011 but transforming into the fifth best performing hedge fund for 2012, with a total return of 24.1 per cent.

The placing of the two UK funds at the top of the poll, to be published by Bloomberg Markets magazine next month, masks a US- dominated list, with just 15 of the top 100 funds outside the US.