Hedge Fund News: Barry Rosenstein, Jeffrey Smith, Bill Ackman

Buffett’s Index Fund Outgains Hedge Funds In 10-Year Bet (CNBC)
The stock market index fund Warren Buffett picked in a bet continues to outpace a collection of hedge funds seven years into the 10-year wager. The latest standings in Buffett’s bet with the money managers who own Protege Partners were reported Tuesday by Fortune magazine. Buffett made the bet in 2008 to demonstrate how hefty fees can hurt investment returns.

Ackman Posts Small Gain In January, Other Managers Nurse Losses (Reuters)
William Ackman’s Pershing Square Holdings fund posted small gains in January, according to a portfolio update, as the broader stock index fell and some other prominent hedge fund managers nursed losses. The $6.6 billion portfolio inched up 0.6 percent last month, according to the update which did not say which positions underpinned performance. Last year, Ackman posted a 40 percent gain, ranking him as one of the industry’s best performers.

Big Money Looking For Hot Plays on Energy (CNBC)
Big investors are starting to listen to hedge and private equity fund talk about all the money to be made in energy. But they are yet not moving into the beat-up sector en masse given uncertainty around timing. Deutsche Bank said that U.S. hedge fund clients like family offices, pensions and endowments are eyeing energy, and that there’s been an uptick in requests for meetings with energy-focused managers, including traditional hedge funds and mutual funds that invest in both debt and equity.

Hedge Fund Harness, Run By Ex-Fortress Exec Peress, Lost 8.8 pct In Jan (Reuters)
Harness Macro Currency Strategy, a hedge fund started by former Fortress Investment Group portfolio manager Philippe Peress, lost 8.8 percent in January, according to a letter from the fund to investors seen by Reuters. The fund, which manages more than $750 million and in which Brevan Howard Investment Holdings Ltd has a stake, did not disclose the exact reason for the loss but the newsletter showed investments in Europe contributed the most to the decline.