The HFM US Performance Awards are the most important and influential awards in the US hedge fund calendar, with the best performing funds all vying for industry-wide recognition and celebration.

The awards recognize both hedge fund and fund of hedge fund performance, covering all areas of hedge fund strategy, from credit and equity to macro and managed futures.

Now in their 14th year, this year’s HFM US Performance Awards took place virtually on November 5 to provide a platform to still reward those hedge funds leading the way in the sector at a time when face-to-face events are not possible.

Sponsored by: 

Matt Smith, Editor, HFM:

This year will certainly go down as a litmus test for hedge fund performance.  Not since the financial crisis of 2008 have markets experienced such a rapid and deep sell-off.

As the US has grappled with both the unprecedented health crisis and the economic carnage wrought by Covid-19, investment managers have been doing their best to protect client capital as well as look to new opportunities in an emerging ‘new normal’.

It is a sign of the extend of the disruption caused by the pandemic that the annual HFM US Performance Awards are being held as a virtual event for the first time.

Our 2020 awards seek to recognise those firms that have best capitalised on the more favourable markets of 2019 and navigated a truly testing first half to deliver strong risk-adjusted returns compared to their peers.

Our 12-strong judging panel, which includes heavyweight institutional investors and specialist consultants, helped us with the rigorous selection process we went through to arrive at our award winners across nearly 40 categories.

Congratulations to everyone shortlisted for these awards and, of course, all the winners.

HFM US Performance Awards 2020 Winners

Outstanding contribution

Joe Edelman, Perceptive Advisors   

Best 40 Act Fund 

Alger Dynamic Opportunities Fund, Fred Alger Management 

Highly commended
Guggenheim Market Neutral Real Estate Fund, Guggenheim Investments

Newcomer - equity 

HITE Energy, HITE Hedge Asset Management 

Highly commended
Plaisance Midway Fund, Plaisance Capital

Specialist equity 

Equinox Partners - Gold Mining Managed Accounts, Equinox Partners Investment Management

US equity under $1bn 

Waterfront CP Enhanced Master Fund, Waterfront Capital Partners   

US equity over $1bn 

Millennium Partners, Millennium Partners 

Highly commended
Perceptive Life Sciences Fund, Perceptive Advisors

Global equity under $1bn 

Aquilo Capital, Aquilo Capital Management 

Highly commended
Apis Capital, Apis Capital Advisors

Global equity over $1bn 

Citadel Tactical Trading, Citadel  

Global Equity long-term performance (5 years) 

Valley Forge Capital, Valley Forge Capital Management  

US equity long-term performance (5 years) under $1bn 

Valley Forge Capital, Valley Forge Capital Management  

US equity long-term performance (5 years) over $1bn 

Renaissance Institutional Equities Fund, Renaissance Technologies   

Best options strategy 

Infinity Q Volatility Alpha Fund, Infinity Q Capital Management  

Highly commended
One River Dynamic Convexity, One River Asset Management

Credit under $1bn 

Hudson Bay Cap Structure Arbitrage Enhanced Fund, Hudson Bay Capital Management   

Credit over $1bn 

Saba Capital Partners, Saba Capital Management 

Highly commended
STS Master Fund, Deer Park Road Management Company

Credit long-term performance (5 years) under $1bn 

Millstreet Credit Fund, Millstreet Capital Management  

Credit long-term performance (5 years) over $1bn 

Short Duration Fund, Brevet Capital

Highly commended
Aristeia International, Aristeia Capital

Merger arbitrage 

NexPoint Merger Arbitrage Fund, NexPoint  

Newcomer – macro 

Abraham Fortress Fund, Abraham Trading Company  

Macro under $1bn 

Massar Macro Commodity, Massar Capital Management  

Macro over $1bn 

D. E. Shaw Oculus Fund, D. E. Shaw & Co  

Macro long-term performance (5 years) 

Haidar Jupiter, Haidar Capital Management   

Newcomer managed futures (CTA) 

Statera, Roe Capital   

Managed futures (CTA) under $1bn 

Revolution Alpha Program, Revolution Capital Management 

Highly commended
Millburn Commodity Program, Millburn Ridgefield Corporation

Managed futures (CTA) over $1bn  

Crabel Multi-Product 1.5X, Crabel Capital Management  

Managed futures/CTA long-term performance (5 years) under $1bn 

Millburn Commodity Program, Millburn Ridgefield Corporation  

Managed futures/CTA long-term performance (5 years) over $1bn 

Crabel Multi-Product 1.5X, Crabel Capital Management  

Fund of hedge funds - specialist 

Pinnacle Physicals & Financing Master Track II, Pinnacle Asset Management  

Fund of hedge funds - multi-strategy under $1bn 

Eagle's View Capital Partners, Eagle's View Capital Management 

Highly commended
Pinnacle Physicals & Financing Master Track II, Pinnacle Asset Management

Fund of hedge funds - multi-strategy over $1bn 

Ironwood Institutional Multi-Strategy Fund, Ironwood Capital Management  

Fund of hedge funds - long-term performance (5 years) under $1bn 

Silver Creek Core Strategies, Silver Creek Capital Management  

Fund of hedge funds - long-term performance (5 years) over $1bn 

Magnitude Institutional, Magnitude Capital 

Highly commended
Ironwood Partners, Ironwood Capital Management

Event driven under $1bn 

LIM Unleveraged Arbitrage Strategy, Longfellow Investment Management Co.  

Event driven over $1bn 

Hudson Bay Fund, Hudson Bay Capital Management   

Quantitative strategy under $1bn 

One River Dynamic Convexity, One River Asset Management  

Quantitative strategy over $1bn 

Voloridge Trading Aggressive Fund, Voloridge Investment Management   

Multi-strategy under $1bn 

Janus Henderson Multi Strategy Fund, Janus Henderson Investors  

Multi-strategy over $1bn 

Voloridge Trading Aggressive Fund, Voloridge Investment Management   

Multi-strategy long-term performance (5 years) 

D. E. Shaw Composite Fund, D. E. Shaw & Co 

Highly commended
Citadel Wellington, Citadel

Management firm of the year  

Hudson Bay Capital Management