One year ago
»» Multistrategy funds had finally recovered years after being hard-hit in the financial crisis and instituting gates or side pockets that made it harder for them to attract new assets immediately afterward.
Multistrategy funds in Americas fell 9.95% in 2008 and then rose 21.99% in 2009 and 10.21% in 2010. They were flat in 2011 and up an estimated 2.82% this year through June, a shade higher than the performance of the broader Composite Index.
Among the funds mentioned in the story, Izzy Englander’s Millennium Management is up 2.4% through mid-June; Carlson Capital’s Double Black Diamond strategy is up 3.4% for the same period; and Whitebox Advisors’ flagship has risen 3.87% (data here) through May.
Five years ago
»» Chris Lanigan, formerly of Ziff Brothers International, and Scott Mayo, who had been at Maverick Capital Management, neared the launch of long/short Covey Capital Advisors in Atlanta.
Five years later, the industrial stock specialists, who did not respond to a request for comment, manage relatively modest funds compared to their former employers. Covey has $82.4 million in regulatory assets under management, according to its most recent public filings.
Returns could not immediately be determined. The firm did not immediately respond to a request for comment.