Hedge Fund News: Daniel Loeb, Crispin Odey & Julian Robertson

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Loeb’s hedge fund outperforms peers with returns 25.2% returns in 2013 (Venture Capital Post)
Daniel Loeb, the activist investor and hedge fund manager, led rivals in 2013 as his flagship fund gained 25.2%, Reuters reported. With bets made on Greek bonds, blue-chip US stocks and the economic recovery in Japan, Loeb’s $14 billion firm Third Point has been one of the top performers in the industry for past few years now. Citing a client who got a performance update from Loeb on Thursday, the report said the Third Point Offshore fund posted a 2.3% gain in December. The Third Point Ultra fund gained much higher at 3.4% in the same period and ended the year up 37.9%. The Ultra fund is a smaller fund that utilizes borrowed money to increase returns.

what is a hedge fund

Hedge fund chief cashes in with £13.5m ‘bet’ on United’s share price crash under Moyes (Daily Mail)
When the final whistle blew at Old Trafford on New Year’s Day, one guru of high finance would have been cheering Tottenham Hotspur’s victory just as wildly as the travelling support. Multi-millionaire Crispin Odey owns a hedge fund, a type of investment vehicle that seeks out opportunities to make a quick return for clients. And in December, his firm Odey Asset Management made a £13.5million bet that Manchester United’s poor performance would prove more than just a blip. Odey took out a ‘short position’ on Manchester United PLC (NYSE:MANU)’s shares on the New York Stock Exchange, effectively a huge bet on the champions’ decline.

Tiger Seeding Fund Returns 22% (FINalternatives)
Julian Robertson‘s unerring eye for investing talent paid big dividends for investors last year. Tiger Management’s $450 million Accelerator Fund, a two-year-old seeding fund that invests alongside Robertson, was up 22.6% last year through the middle of December. The fund invests in six hedge fund managers. Many of the hedge fund world’s luminaries got their start under Robertson at Tiger, and launched their own funds with his help. Robertson, who closed his hedge fund in 2000, has seeded about 40 so-called “Tiger cubs.”

What Hedge Funds Think About AT&T Inc. (NYSE:T) (WallStreetPR)
It is always important for everyday investors to know what their institutional counterparts think about the stocks they are holding. Over the past 12 months AT&T Inc. (NYSE:T) witnessed interesting hedge fund trading. AQR Capital Management, managed by Cliff Asness, was also long in the stock, holding $144.2 million stake, thus constituting 0.5 percent of its stock portfolio. It is important to note that fund managers Adam Weiss and D. E. Shaw through their investment vehicles Scout Capital Management and D E Shaw respectively, are also long in AT&T Inc.

NexPoint Credit Strategies Fund Announces the Regular Monthly Dividend (MarketWatch)
Nexpoint Credit Strategies Fund (NYSE:NHF) (“NHF” or the “Fund”) today announced its regular monthly dividend on its common stock. A dividend of $.050 per share will be payable on the last business day of January to shareholders of record at the close of business January 24, 2014. As of December 31, 2013, the Trust had estimated undistributed net investment income of approximately $8.0 million (unaudited). The Fund is a closed-end fund managed by NexPoint Advisors, L.P. (the “Manager”), an affiliated adviser of Highland Capital Management, L.P. The Fund invests primarily in below investment grade debt and equity and has the ability to hedge risk. The Manager attempts to deliver consistent returns in excess of the Credit Suisse Hedge Fund and the HFRX Global Hedge Fund indices in a transparent, registered fund format with consistent monthly dividends.

Hedge funds’ 2014 playbooks (CNBC.com)

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