Tudor Investment Tensor Fund Up Nineteen Percent YTD
Tudor Investment's Tensor Fund is currently up almost 19% YTD according to an article in the New York Post (which was subsequently confirmed by the company as being accurate). The Tensor Fund, run by Steve Evans, is enjoying some of the strongest overall gains in the quant fund sector, comfortably ahead of leading quant funds such as the Global Equities Opportunities Fund (Goldman Sachs).
The fund, which was started in late 2005, has returned an average of 13.78% per year up until now. The fund, under the umbrella of Paul Tudor Jones' trading firm Tudor Investment, has approximately one billion dollars under management.
What makes 2008's performance even more impressive is the fact that other leading quant funds are struggling in comparison so far this year. According to the New York Post article, The Global Equity Opportunities Fund is flat to +1% as of July 31st after receiving a bit of a haircut in July. The James Simon-run Renaissance Institutional Equities Fund, one of the leading quant funds with approximately $15 billion under management, is down around 4% YTD. This makes the nearly 20% return for the Tensor Fund (after just seven months) even more impressive.
Considering the recent publicity that this fund has received, I would expect a great deal of new capital to flow into the fund, especially if they can continue to build on an already-strong 2008.
Steve Evans joined Tudor in August of 1997 and was made a partner in 2000. He has a background in both mathematics and software development, making him the perfect choice to run the company's quant fund.
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