By Carolina Mandl
NEW YORK, Dec 2 (Reuters) - A number of multi-billion
dollar hedge funds gained in November, numbers obtained by
Reuters show, riding the volatility of the U.S. presidential
election despite tight polling making positioning more difficult
for portfolio managers.
Following the election of Donald Trump on Nov. 5, U.S.
stocks, the dollar and bitcoin rallied, while the euro and the
Mexico's peso struggled. U.S. treasuries did well in November,
with the 10-year Treasury yield down by about 10 basis points
over the course of the month, as a rally at the end of the month
offset yield gains around the election.
Multi-strategy hedge funds Citadel and Schonfeld both gained
1.8% in their flagship funds Wellington and Strategic Partners
in November, according to sources. The Winton Fund gained 0.3%,
a separate source said.
Macro hedge fund Discovery Capital, founded by Rob Citrone,
jumped 14.5% last month, another person said. His fund is up
46.5% on the year.
Discovery, known as a "Tiger cub" as its founder worked for
legendary investor Julian Robertson at Tiger Management, Citrone
bets on macro trends as well as equities long and short
positions. All the asset classes were positive contributors to
performance, this source added.
See below hedge funds' performances in November:
Fund Performance in
November
Citadel 1.8%
Wellington
Citadel 1.6%
Tactical
Trading
Schonfeld 1.8%
Strategic
Partners
Schonfeld 1.6%
Fundamenta
l Equity
Discovery 14.5%
Capital
The Winton 0.3%
Fund
Winton 0.2%
Diversifie
d Macro
*Through Nov. 28th
(Reporting by Carolina Mandl, in New York; additional reporting
by Nell Mackenzie, in London, and Davide Barbuscia, in New York)