In a time with most hedge fund managers are losing money, there are rare exceptions like Hugh Hendry. Despite the low returns seen throughout the market, Hendry’s Eclectica Absolute Macro fund returned 4.76% in August and September according to CityAM.
Hugh Hendry and his Eclectica
“Eclectica now has $700m (£446.8m) under management.” reports CityAM. Hendry is from Glasgow. He started Eclectica after leaving his job at Odey Asset Management, where he worked as a trader. He is very charismatic, frequently appearing on television programs like BBC’s Question Time. According to CityAM, “His success comes against a grim period for the hedge fund industry, which is struggling to emerge from its worst period since the height of the financial crisis. The average fund fell by 2.8 per cent in September and 5.5 per cent over the quarter, according to Hedge Fund Research.”
David Harding and Others Net Positive Returns
A few other hedge fund managers have managed to turn a strong profit as well. The Man Group’s $2 billion GLG fund gained around 6% in September. David Harding‘s Winton Capital is up by 6.3% so far this year.