February 28, 2017 | bloombergbriefs.com

Hedge

Funds

Rankings

2016

2016’s Top-Performing Funds With $1 Billion or More in Assets

RANKINGS

Rank Fund Manager(s) Assets ($B)2016 Return (%)

2015 Return (%)

3-Yr Annualized Return (%)

Management Company Strategy

1 Mudrick Distressed Opportunity

Jason Mudrick 1.5 38.7 -25.9 6.1 Mudrick Capital Management

Event-driven distressed

2 PH&N Absolute Return Hanif Mamdani 1.2 33.5 -2.3 12.4 RBC Global Asset Management

Multistrategy

3 ECF Value Jeffrey Gates, Dax Vlassis, Justin Boisseau

1.7 31.0 -19.8 1.2 Gates Capital Management

Event-driven distressed

4 CQS Directional Opportunities

Michael Hintze 2.8 30.4 -8.0 7.4 CQS Investment Management

Multistrategy

5 Quantedge Global Team managed 1.1 26.8 -18.3 10.4 Quantedge Capital Macro systematic

6 Astenbeck Commodities II Andrew Hall 1.4 26.4 -35.8 -3.7 Astenbeck Capital Management

Commodity energy

7 ZP Energy Stuart Zimmer 1.0 25.5 -8.7 NA Zimmer Partners Long-short equity energy

8 Contrarian Capital I Jon Bauer, Janice Stanton, Bill Raine

2.3 25.4 -7.9 5.1 Contrarian Capital Management

Event-driven distressed

9 Impala Master Robert Bishop 1.4 25.1 -6.5 8.0 Impala Asset Management

Long-short equity

10 Autonomy Global Macro Robert Gibbins 3.5 24.9 3.0 10.8 Autonomy Capital Macro

11 Brigade Leveraged Capital Structures

Don Morgan 2.6 23.1 -10.7 3.4 Brigade Capital Management

Fixed-income diversified

12 Brigade Credit II Don Morgan 2.3 22.9 -9.9 3.6 Brigade Capital Management

Fixed-income directional

13 MTP Energy Eric Scheyer, Adam Daley

2.4 22.8 -21.3 -1.5 Magnetar Capital Event-driven

14 Saba Capital Master Boaz Weinstein 1.2 22.7 3.4 4.2 Saba Capital Management

Fixed-income relative value

15 Andurand Commodities Pierre Andurand 1.7 22.2 4.1 22.2 Andurand Capital Commodity

16 Strategic Value Restructuring

Victor Khosla 1.6 21.6 -5.1 4.7 Strategic Value Partners

Event-driven distressed

17 Renaissance Institutional Equities

Peter Brown, Bob Mercer

1.5 21.5 17.4 17.8 Renaissance Technologies

Long-biased equity

18 Davidson Kempner Distressed Opportunities International Cayman

Anthony Yoseloff, Avi Friedman, Conor Bastable

1.4 21.1 -6.2 5.6 Davidson Kempner Capital Management

Event-driven distressed

19 Rokos Global Macro Master

Chris Rokos 4.5 20.1 NA NA Rokos Capital Management

Macro

20 Element Capital Jeffrey Talpins 9.0 19.4 22.7 15.0 Element Capital Management

Macro

21 Black Diamond Thematic Richard Maraviglia, Matt Barkoff

1.4 19.0 -5.9 8.6 Carlson Capital Long-short equity

22 Oz Credit Opportunities Master

Jimmy Levin 1.8 18.2 -5.2 6.9 Och-Ziff Capital Management

Fixed-income directional

23 Marathon Special Opportunity

Louis Hanover 1.3 17.8 -11.9 0.02 Marathon Asset Management

Event-driven distressed

24 Kayne Anderson MLP

J.C. Frey 1.1 17.4 -33.9 -6.4 Kayne Anderson Capital Advisors

Long-short equity energy

Bloomberg's rankings of the top-performing hedge funds are based on funds' net returns for 2016. The data was com-piled from information supplied by fund companies, investors and fund databases. Because hedge-fund returns can be difficult to obtain, our lists are not all-inclusive. All returns are for full-year 2016; fund assets are through Dec. 31, 2016. Onshore and offshore assets were combined for a number of funds, while figures for other funds were only for the larger or better-performing class of the fund. "NA" denotes the fund doesn't have a full two-year or three-year history.

Posted from Bloomberg Briefs, February 28, 2017, copyright by Bloomberg L.P. with all rights reserved. This reprint implies no endorsement, either tacit or expressed, of any company, product, service or investment opportunity.

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2016 Top-Performing Funds With Between $250M and $1B in Assets

RANKINGS

Rank Fund Manager(s) Assets ($M)2016 Return (%)

2015 Return (%)

3-Yr Annualized Return (%)

Management Company Strategy

1 JLP Credit Opportunity Jeffrey Peskind 854 56.4 -38.0 -5.6 Phoenix Investment Adviser

Event-driven distressed

2 Dymon Asia Currency Value Master

Danny Yong 894 56.1 14.4 24.6 Dymon Asia Capital Macro

3 Equinox Partners Sean Fieler 255 55.0 -26.4 -1.2 Mason Hill Advisors Long-short equity

4 Thai Focused Equity Doug Barnett 300 51.0 1.0 21.5 Quest Management Long-biased equity

5 Cheyne Total Return Credit

John Weiss, David Peacock, Sean Boland, Mark Flack

361 46.5 -22.7 10.0 Cheyne Capital Fixed-income directional

6 Knight Vinke Institutional Partners International

Eric Knight 860 46.2 21.1 17.7 Knight Vinke Event-driven activist

7 Financial Opportunity Martin Friedman 265 37.0 22.5 23.4 FJ Capital Management

Event-driven equity

8 Kayne Anderson Infrastructure Income Partners

Mike SchimmelJ.C. Frey

473 35.2 -9.8 6.3 Kayne Anderson Capital Advisors

Fixed-income directional energy

9 Wexford Catalyst Charles Davidson, James Rubin, Richard Shapiro

363 35.0 -13.5 12.2 Wexford Capital Macro energy

10 Kayne Anderson Capital Income Partners

J.C. Frey 283 34.3 -35.1 -6.6 Kayne Anderson Capital Advisors

Multistrategy energy

11 Adar Macro Zev Marynberg 842 33.5 26.7 1.8 Adar Capital Partners

Macro

12 Varden Pacific Opportunity Partners

Shawn Stoval 523 33.3 -6.1 11.0 Varden Pacific Fixed-income directional

13 Corre Opportunities John Barrett, Eric Soderlund

278 31.1 -8.7 8.5 Corre Partners Management

Event-driven

14 Amplitude Klassik Karsten Schroeder 936 29.4 -18.9 9.9 Amplitude Capital Managed futures

15 Quantitative Tactical Aggressive

Jaffray Woodriff 738 28.4 -5.8 7.6 Quantitative Invest-ment Management

Long-short equity

16 Brigade Structured Credit

Don Morgan 630 26.9 -5.9 NA Brigade Capital Management

Capital structure arbitrage

16 Whitebox Relative Value Partners

Robert Vogel 396 26.9 3.6 11.7 Whitebox Advisors Convertible arbitrage

18 Marlin Michael Masters, Gregory Pope

513 26.5 -8.4 12.2 Masters Capital Management

Long-short equity

19 Brookfield Credit Opportunities Master

Angelo Rufino, Bob Paine 375 26.0 -4.4 NA Brookfield Asset Management

Event-driven distressed

20 White Square Pure Alpha Florian Kronawitter, Dennis Krings-Ernst

280 25.1 24.3 NA White Square Capital Equity market neutral

21 Latigo Ultra David Ford, David Sabath 345 25.0 -11.9 5.1 Latigo Partners Event-driven

22 Elm Ridge Capital Partners

Ronald Gutfleish 339 24.5 -29.8 -4.8 Elm Ridge Management

Long-short equity

23 BioMedical Value Jeffrey Jay, David Kroin 521 23.8 21.2 15.1 Great Point Partners Long-short equity health care

24 AQR Global Asset Allocation

Team managed 506 23.6 4.6 2.0 AQR Multistrategy

Bloomberg’s rankings of the top-performing hedge funds are based on funds’ net returns for 2016. The data was compiled from information supplied by fund companies, investors and fund databases. Because hedge-fund returns can be difficult to obtain, our lists are not all-inclusive. All returns are for full-year 2016; fund assets are through Dec. 31, 2016. Onshore and off-shore assets were combined for a number of funds, while figures for other funds were only for the larger or better-performing class of the fund. "NA" denotes the fund doesn't have a full two-year or three-year history..

Sources: Hedge-fund firms, databases and investors