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G.M. Led in China for Years. Here’s How It Ended Up 16th in Sales.
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General Motors has gone from market leader to also-ran in the world’s
largest car market, stymied by its own missteps and Chinese policies that
favored its...
20 minutes ago
Who’s Delivering Alpha?
ReplyDeleteMany of the world’s most powerful hedge fund managers are gathering under one roof this fall for the much-anticipated “Delivering Alpha” conference in Manhattan, presented by CNBC and Institutional Investor magazine. The hot topic on the agenda — apart from emerging markets, credit yields, and commodities futures — will be to see who’s really delivering alpha.
The metric used to measure a portfolio manager’s added value — “Alpha” — is also a way for managers to size each other up. Alpha is all about outperforming your benchmark, be it the volatile stock market, or simply returns on cash.
With the industry not what it once was — less leverage and more SEC involvement — delivering alpha is now considered the exception rather than the norm. Hedge funds are up just 1.2% year-to-date through July, according to Hedge Fund Research, lagging the S&P’s roughly 6.5% gain through July.
Many of the conference attendees are considered industry icons for outperforming their peers. Click ahead to see the Hedge Fund elite, and how much they’re managing.
Note: Assets Under Management, AUM are reported as of end of Q2, 2011 (6/30/2011)
By Jennifer Leigh Parker
Posted 12 September 2011