According Institutional Investor’s Alpha’s 16th annual Rich List of top earning hedge fund managers, 2016 saw the worst earnings since 2005.
The mediocre performance has led some big pension plans to finally pull their money out of investors, with recorded outflows of US$70 billion for the year.
Though there was a group of managers that saw strong double-digit gains – including James Simmons of Renaissance Technologies who topped the list – a significant portion of the largest funds suffered losses or low-single-digit gains, while the S&P 500 gains 12% on the year.