{"id":28282,"date":"2012-04-02T07:40:53","date_gmt":"2012-04-02T11:40:53","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=28282"},"modified":"2012-04-02T07:49:02","modified_gmt":"2012-04-02T11:49:02","slug":"ar-magazines-list-of-2011s-top-earning-hedge-fund-managers","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/04\/2012\/ar-magazines-list-of-2011s-top-earning-hedge-fund-managers.html","title":{"rendered":"AR Magazine: Hedge Fund Managers – 2011’s Top 5 Earners"},"content":{"rendered":"

\"\"<\/a>New York (HedgeCo.net) – The hedge fund industry\u2019s top 25 managers took home a combined $14.4 billion in 2011, according to AR magazine\u2019s annual Rich List survey of the world\u2019s top-earning hedge fund managers. The average pay for the top 25 was $576 million, according to the ranking, which appears in the April issue of AR.<\/p>\n

The richest managers were not immune to market volatility, however. Last year\u2019s total compensation for the 25 top earners fell nearly 35 percent from more than $22 billion in\u00a02010, and disappointing hedge fund performance played a large role in the steep decline. The HedgeFund Intelligence Global Composite Index lost 2.01 percent last year.<\/p>\n

\u201cHedge fund managers are paid high fees to deliver positive absolute returns, regardless of the direction of the markets,\u201d says Michael Peltz, editor of both AR and Institutional Investor magazines. \u201cIn 2011, the majority of managers failed to do that.\u201d<\/p>\n

Several managers bucked that trend, led by Raymond Dalio, the founder of Westport, Connecticut\u2013based Bridgewater Associates. Dalio is the top hedge fund moneymaker for\u00a02011, with earnings of nearly $4 billion. Bridgewater is now the largest hedge fund firm in the world, with $70 billion in hedge fund assets and $120 billion in total assets under management.<\/p>\n

Corporate-raider-turned-activist-investor Carl Icahn takes second place, with a $2.5 billion payday in 2011. Though he returned capital to outside investors in the first half of\u00a02011, his full-year gains of 34.5 percent before fees enabled him to qualify for this year\u2019s list.<\/p>\n

Renaissance Technologies Corp. founder James Simons, No. 3 on the list, also benefited from strong performance, ending the year with a $2.1 billion paycheck. Though Simons is retired from the East Setauket, New York firm, he still has a large percentage of his personal capital invested in Renaissance\u2019s hedge funds, which produced big gains last year.<\/p>\n

The top five moneymakers for 2011 were:<\/strong>
\n1. Raymond Dalio (Bridgewater Associates)….$3.9 billion
\n2. Carl Icahn (Icahn Capital Management)…..$2.5 billion
\n3. James Simons (Renaissance Technologies Corp.)….$2.1 billion
\n4. Kenneth Griffin (Citadel)….$700 million
\n5. Steven Cohen (SAC Capital Advisors)….$585 million<\/p>\n

Several managers turned in tepid performances in 2011, but that didn\u2019t stop them from qualifying for this year\u2019s Rich List. No fewer than 11 managers made the list despite posting only single-digit gains in their funds. This is partly because these managers have much of their personal wealth tied up in their funds, but also because their firms\u2019 assets have grown so large that income generated from management fees \u2014 typically 1 to 2 percent of a firm\u2019s assets \u2014 became a huge profit center.<\/p>\n

The tough markets in 2011 led to a major shakeup of the Rich List this year. The majority of last year\u2019s winners \u2014 some 15 managers \u2014 fell off the list. The most high profile of these is Paulson & Co. founder John Paulson, who failed to make the Rich List for the\u00a0first time since 2007 after some of his firm\u2019s hedge funds generated losses of between 30 and 50 percent.<\/p>\n

There is no shortage of fresh faces on this year\u2019s Rich List. Eight managers on the list are newcomers, demonstrating that even in challenging markets it\u2019s still possible to generate outsize returns. They include Bridgewater co-chief investment officers Greg Jensen and Robert Prince, and Paul Singer of Elliott Management Corp.<\/p>\n

This year marks the 11th year of the Rich List ranking, which started in the pages of Institutional Investor magazine, before migrating to AR. To be included on this year\u2019s list, a manager had to earn $100 million, the lowest number in four years. The full list of the 25 top hedge fund moneymakers 2011 appears in the April issue of AR.<\/p>\n","protected":false},"excerpt":{"rendered":"

New York (HedgeCo.net) – The hedge fund industry\u2019s top 25 managers took home a combined $14.4 billion in 2011, according to AR magazine\u2019s annual Rich List survey of the world\u2019s top-earning hedge fund managers. The average pay for the top […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[919,3],"tags":[],"class_list":["post-28282","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-research","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/28282","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=28282"}],"version-history":[{"count":4,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/28282\/revisions"}],"predecessor-version":[{"id":28287,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/28282\/revisions\/28287"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=28282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=28282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=28282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}