New York (HedgeCo.net) – The rough start for the stock market in 2016 has taken a toll on some of the higher-profile hedge fund managers, but the industry as a whole has performed relatively well.

According to a recent article from Reuters, Trian Fund Management lost almost 10% in the first two weeks of the year and Pershing Square Holdings was down 11.4% through January 12. Trian is run by Nelson Peltz and Bill Ackman is the founder of Pershing Square.

While these two funds may be more well-known than many other funds, the overall performance for the hedge fund industry has been much better. Industry research firm HFR reports that through the first few weeks, the average hedge fund is down around 2.5% while the S&P was down 8% through the close on Friday, January 15.

One fund that was tagged by HSBC for having the best performance through January 13 was Horseman Global Fund. According to reports the fund was up 10.49% YTD and that is on top of a 20.4% gain in 2015.

Rick Pendergraft
Research Analyst
HedgeCoVest