SAC Capital’s Steve Cohen is the only hedge fund manager on a new ranking of the world’s top-10 art collectors. Wealth-X, a Singapore-based wealth research firm that analyzed the world’s top billionaire art collectors based on the value of their collections, found that the world’s 2,170 billionaires own an average of $31 million of art, or 0.5 percent of their net worth.
Meanwhile, SAC had a mediocre May, rising just 0.70 percent for the month, putting it up just 6 percent for the year. On Thursday the firm reported a 5.3 percent passive stakes in Lamar Advertising and ITT Educational Services.
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The great Japanese macro trade was a dud again on Thursday, a big blow to not only the trend followers but to special situations managers like Daniel Loeb’s Third Point, which embraced the fleeting financial play as well. On Thursday the Nikkei dropped nearly 1 percent, while the yen climbed 2.1 percent to 97.06 per dollar. In fact, the yen rose against all 16 major currencies it is traded against.
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The average hedge fund rose 0.7 percent in May and 4.6 percent through the first five months, according to industry tracker eVestment. Small funds — those with less than $250 million — are up 4.77 percent, outperforming mid-size and large funds. Equity strategies are leading the way this year, up 7.22 percent. The worst performer: commodity strategies, down nearly 3 percent.
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Maryland’s state pension system has invested $50 million in hedge fund Taylor Woods Capital Management, an actively managed commodity fund with a special emphasis on energy. Altogether, the $42 billion State Retirement & Pension System has nearly $1.1 billion, or 2.6 percent of its assets, invested in commodities.
