New York (HedgeCo.net) – The endowment funds of Ivy League schools have long been admired for their ability to produce respectable returns regardless of market conditions and they have been celebrated for their ability to protect the downside during market declines. One former equity manager for Harvard’s endowment fund that is now running his own hedge fund firm is doing very well.

Jonathon Jacobson and his firm Highfields Capital Management saw their main fund gain approximately 9% in the month of October as the S&P rebounded from the third quarter slump. This performance is more comparable to the 8.3% that the S&P gained than it is the average hedge fund’s performance of 1.9%. The monthly gain took the fund back in to the green for the year with a gain of 3%.

Highfields is based in Boston and manages approximately $12.5 billion. The fund’s strategies include equity long/short, event-driven and debt instruments. The firm invest both domestically as well as globally.

Rick Pendergraft
Research Analyst
HedgeCoVest