News round-up: Hedge funds report decade’s strongest annual returns; Gladstone partner to leave firm; Elliott Management plots Hong Kong exit

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Hedge funds report decade’s strongest annual returns

The hedge fund industry posted its best annual returns in over 10 years, according to the latest figures from the Eurekahedge Hedge Fund Index.

The index was up 3.41% in December 2020, marking a full year return of 11.77%. More than eight in ten of the hedge funds reporting to Eurekahedge posted positive returns for the final month of 2020, and 40% reported double-digit returns for 2020. Several players, including ADW Capital, returned more than 100% last year.

A recent report by Preqin also said its All-Strategies Hedge Fund benchmark had a ‘strong’ end to 2020, posting +3.99% in December. 

According to Forbes, this was the best return the sector has published since 2009.

Gladstone partner to leave firm 

Fraud investigator Martin Stapleton has departed Gladstone Partners after four years with the firm, reports claim.

Stapleton, who focused on European industrial mid-cap groups at Gladstone, was one of six partners at the firm and previously worked at Steve Cohen’s SAC Capital.

When approached by the FT, Gladstone Capital and Mr Stapleton declined to comment. Mr Stapleton's future plans are unclear, added the publication.

Elliott Management plots Hong Kong exit

Elliott Management is reportedly preparing to shutter its Hong Kong office, after 15 years in the region.

Reports suggest Paul Singer’s firm will move its remaining Hong Kong-based staff to Tokyo and London after winding down its investment activities in Hong Kong in recent weeks.

According to the South China Morning Post, Elliott’s Chater House-based Hong Kong office began 2021 with fewer than 20 employees, down from around 40 in 2019.

James Smith, former head of Elliott’s Hong Kong office, relocated to its London team in 2018 before leaving the company the following year.

Stephanie Taylor

Head of Event Content, HFM

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