78% of the top Mid-Sized Hedge Funds see their Assets increase YTD

Date: Monday, June 17, 2013
Author: HedgeTracker

The most recent ranking for the Top 100 Mid-Sized Equity Hedge Funds has been released, revealing that the top hedge funds oversee a combined $65.1 billion in US equities. 78% of the hedge funds on the list saw their equity assets increase year-to-date, while 61% of those funds saw their assets increase by more than $50 million. Leading the top gainers were event-driven focused Tyrus Capital SAM and arbitrage styled Ionic Capital Management LLC.

The Top Mid-Sized Equity Hedge Fund list is led by Palo Alto Investors, Encompass Capital Advisors and Perceptive Advisors LLC. Palo Alto Investors employs a growth company focused long/short equity strategy, while Encompass Capital and Perceptive Advisors focus on Energy sector stocks and Biotech sector stocks, respectively.

Todd Kantor’s Encompass Capital joined the Top Mid-Sized Equity Hedge Fund list for the first time last quarter at the 14th spot. Year-to-date the firm has seen its U.S. equity assets by $75 million, nearly 10%. Notably, Encompass Capital was spun-off by Kantor from Ken Griffin’s Citadel Investment Group in late 2011.

Not surprisingly, the top investment strategy for the Top 100 Mid-Sized Equity Hedge Fund list is Long/Short Equity, which is employed by 33 hedge funds with nearly $22 billion in equity assets. 10 of these long/short hedge funds have a global equity focus.

A total of 12 Deep Value and Distressed focused hedge funds made the top 100 Mid-Sized list. Notably, the deep value group includes Richard Blum’s Blum Capital Partners and P2 Capital Partners, which is led by Blum Capital veteran Claus Moller.

Fourteen specialty managers also made the list with assets topping $9.8 billion. The specialty managers on the list have a range of industry focuses, including: Biotech, Commodities, Energy, Financials, Healthcare, Technology and Tech-Media & Telecom (TMT).