July Slow Month for Year’s Best Hedge Funds

August 12, 2012 James Heinsman Tops

The following hedge funds have had a fabulous year so far, July was nothing to brag about for these top performing funds. July was not particularly good for hedge funds in general, rising by only 1.05 percent, several points behind the growth of the general stock market which was 1.26 percent for the month.

“The returns were not terribly high in July, but according to our data, 75 percent of all hedge funds that have so far reported a return for July have reported a profit,” said president and founder of BarclayHedge Sol Waksman. “An up month, but not a barn-burner.”

•    Maverick Fund: Managed by Lee Ainslie with managed assets valued at $2.9 billion, the Maverick Fund squeaked up by 0.14 percent in July, but has nothing to be ashamed of, still posting an almost 20 percent growth rate so far in 2012. That sure beats 2011’s performance; Maverick lost 14.84 percent of its value last year.

•    BlueMountain Credit Alternatives Fund: Blue Mountain, managed by Andrew Feldstein, rose by 0.67 percent in July. This $4 billion fund is nevertheless up almost 11 percent for the year, through July 31st.

•    Palomino Fund: The $5 billion Palomino fund, one of David Tepper’s Appaloosa funds, gained a tiny 0.89 percent, but for the year he has bragging rights with a nice 14.31 percent gain.

Andrew Feldstein, BarclayHedge, Blue Mountain Credit Alternatives fund, David Tepper, Lee Ainslie,

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