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Traders and employees of Sunlands Online Education gather on the floor of the New York Stock Exchange (NYSE) during the Beijing-based firms IPO on March 23, 2018 in New York City.
- Hedge fund managers struggled through 2018, as market volatility and fee pressure cut into returns and profits.
- The top funds to watch in 2019 are a mix of well-known veterans, up-and-coming start-ups and star traders ready to set out on their own.
Through the first half of 2018, hedge funds were getting along pretty well. The year did not finish on the same note.
The third quarter was the first three-month stretch where fund closures outpaced launches in more than a year, and market volatility in October and November wiped out many managers' marginal gains for the year.
We talked to top hedge fund consultants, recruiters, lawyers and investors for their picks about the managers they'll be watching next year.
They include well-known names like Point72's Steven Cohen and AQR's Cliff Asness, but also lesser known managers who are distinguishing themselves in other ways with unique strategies.
Here they are.