Category: performance

Bearing Fund in 97th percentile for 3-year performance

According to the latest Barron’s Hedge Fund Performance rankings, the Bearing Fund placed in the 97th percentile of the “global macro” category for 3-year return through August 31:

  • Number of funds: 33
  • Global Macro Index: +22.55% (+7.01% annualized)
  • Bearing Fund: +127.82% (+31.58% annualized)

Over the same 3-year period, the S&P 500 (with dividends reinvested) was +10.51% (+3.39% annualized), implying significant survivorship bias to the Barron’s sample.

Over a 1-year period, the Fund was the top performer in its category, +76.79%. Balestra Capital Partners LP was next, +55.08%.

Bearing Fund in 99th percentile for 1-year performance

Morningstar maintains a database of 8,500 hedge funds. In the Global Macro category, the Bearing Fund ranked 3rd out of 354 funds for 1-year performance through June 30. Year-to-date, the Fund ranked 6th out of 354.

Bearing Fund in 97th percentile for 3-year performance

According to the latest Barron’s Hedge Fund Performance rankings, the Bearing Fund placed in the 97th percentile of the “global macro” category for 3-year return through June 30:

  • Number of funds: 33
  • Average: +57.81% (+16.42% annualized)
  • Median: +51.28% (+14.61% annualized)
  • Global Macro Index: +27.70% (+8.49%)
  • Bearing Fund: +146.31% (+35.05% annualized)

Over the same 3-year period, the S&P 500 (with dividends reinvested) was +12.95% (+4.14% annualized), implying significant survivorship bias to the Barron’s sample.

Bearing Fund in 78th percentile for 3-year performance

According to the latest Barron’s Hedge Fund Performance rankings, the Bearing Fund placed in the 78th percentile of the “global macro” category for 3-year return through April 30:

  • Number of funds: 39
  • Average: +48.76% (+14.16% annualized)
  • Median: +33.82% (+10.20% annualized)
  • Bearing Fund: +79.43% (+21.52% annualized)

This sampling is undoubtedly skewed to the upside by significant survivorship bias. Our report card in this elite group is like getting a B+ at Harvard.

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