对冲基金100：Quant Funds Excel - 资产收集

Quants仍然统治对冲基金世界 - 至少在收集资产。

少数数量的公司继续吞噬大笔资产，将其中许多人分开到顶部Institutional Investor’s17年度对冲基金100.截至2017年底，世界上100个最大的对冲基金公司的排名。

四大对冲基金公司 - 以及今年的六个最大的五个 - 在很大程度上依赖于计算机的投资决策，并尽管在某些情况下表现强大的表现，继续吸引资产。与此同时，许多拥有长轨道记录的众所周知的识别公司再次遭受资产的急剧减少或完全关闭。

Ray Dalio’s Bridgewater Associates, a mostly quant firm, retained the top spot for the eighth straight year with $124.7 billion. However, its total hedge fund assets only grew by 2 percent last year. It didn’t help that the firm’s main Pure Alpha funds only gained about 1.2 percent last year.

接下来的三家公司 - 也是Quant公司 - 在资产中享有巨大的浪涌。

AQR Capital Management boosted assets by 29 percent, to nearly $90 billion, enabling it to retain the No. 2 spot. Renaissance Technologies grew its assets by 35.7 percent, to $57 billion, moving up to No. 3 from fourth place last year, while Two Sigma boosted its assets by 33.4 percent, to $52 billion, ranking No. 4. Just three years ago Renaissance ranked No. 15, while Two Sigma ranked No. 21.

Two Sigma’s asset surge last year coincided with its weakest gains in recent memory. The quantitative giant founded by John Overdeck and David Siegel posted high single-digit returns in several key funds in 2017.

多策略公司D.E. Shawthat is known for its quantitative strategies, took the No. 6 spot after growing assets 12.5 percent last year, to $39 billion. London-based Marshall Wace moved into the top ten after growing assets more than 25 percent, to $32.6 billion, ranking No. 9 overall — up from No. 18 just the year before.

几年前卖出大约25％的私募股权kkr的长短信公司是混合企业的一些。它管理从根本驱动的资金的Eureka系列以及其最高系统资金的最高范围。

Altogether, the 100 largest hedge fund firms managed nearly 1.73 trillion at the end of 2017. This was up nearly 5 percent from the prior year, when total assets controlled by the top 100 firms had fallen by 1.2 percent.

根据数据跟踪器HFR，100家最大公司占对冲基金总额的54％占对冲基金总额的54％。

鉴于对冲基金行业自2013年以来，毫无疑问，去年的增长毫无疑问是绩效.HFR的资产加权指数在2017年上涨了6.52％，而其基金加权综合汇率为8.7％。

然而，去年很多老，既良好的公司仍然萎缩 - 或完全关闭。

For example, since last year Eric Mindich’s Eton Park Capital Management shut down, while one firm on this year’s ranking — John Griffin’s Blue Ridge Capital — late last year announced plans to shut down.

此外，莱昂Cooperman最近宣布，他将在年底将Omega顾问转换为家庭办公室，并返回所有外部资本。该公司最近的法律困境造成资产缩减40亿美元，这意味着该公司过去两年没有资格于对冲基金100资格 - 强调一些对冲基金行业的年长政治家的财富如何堕落。

“我不想度过余生，追逐标准普尔500指数，并专注于在投资者资本发行回报，”Cooperman在提出宣布时告诉客户。

Many other well-known names that once ranked among the world’s largest firms have sharply contracted in size this year. Take John Paulson’s Paulson & Co. This year it ranked No. 72, with $9 billion, after posting an 8 percent decline in assets from the previous ranking. That’s a far cry from 2010, when the firm landed at No. 3 on the ranking with $32 billion. Its assets peaked the following year at $36 billion.

罗伯特·康通的发现资本管理在今年年初获得了57亿美元的管理层，从2014年底达到了150亿美元，当前一年的资产几乎增加了一倍。巨大收缩的一个重要原因：虎幼崽的宏观和长期股票公司在四年前三年中丢失了金钱。

杰米·迪纳的约克资本管理全球顾问在资产增加5％，从162亿美元到170亿美元。然而，这表明过去一年的赎回可能在10亿美元到20亿美元之间，因为它在2017年的大部分主要资金被两位数上涨，至少有20％的距离。赎回于2016年占50亿美元。

Then there is Caxton Associates, now headed by Andrew Law. Its assets shrunk nearly 40 percent, to $4.9 billion, taking it down to No. 98 — and putting it in danger of falling off the list next year. At the end of 2002 when Bruce Kovner was still running the firm he had founded, Caxton had $10 billion under management, topping all firms in the 2003 Hedge Fund 100 ranking.

其他公司故意选择缩减其公司的大小，即使性能仍然或多或少强大，或者至少可敬。For example, O. Andreas Halvorsen’s Viking Global Investors suffered a 21 percent decline in its assets, to $21.5 billion, ranking number 22. Just three years ago, it surged to sixth place, with $31.7 billion, and peaked the following year at $33 billion.

Last year the Tiger Cub voluntarily returned $8 billion to investors when it announced that Dan Sundheim stepped down as chief investment officer after 15 years with the firm.

“We are determined to set the firm up for continued strong performance and long-term success and have decided to reset to a smaller size,” Halvorsen told investors at the time.

ValueAct Capital Management posted an 11.7 percent decline in assets, to $15 billion, due mostly to a voluntary return of capital to investors.

Meanwhile, Och-Ziff Capital Management, which suffered heavy redemptions in recent years as a result of a bribery scandal, seemed to have stabilized assets somewhat last year. It fell to No. 12 with $31.9 billion, on a nearly 5 percent decline from the previous year. However, it helped that last year Och-Ziff’s flagship multistrategy fund was one of the top performers in its strategy.

“Our view is that consistent investment performance should lead to inflows,” chief executive officer Robert Shafir told investors in his stock on a conference call earlier this year. “The current market conditions are creating increased interest in multistrategy funds generally, which we think bodes well to the Master Fund with its history of generating consistent lower volatility returns.”

已经看到其资产收缩的公司的皮疹也影响了资格获得排名所需的最低要求。

This year, Paloma Partners had the distinction of bringing up the rear, ranking No. 100 with $4.7 billion. To qualify last year a firm needed $5.5 billion (Dymon Asia, Indus Capital Partners, and Paloma tied for last place), while the 100th ranked firm at the end of 2015 — Paris-based Capital Fund Management — managed more than $6.1 billion.