The February 2013 issue of Bloomberg Markets magazine contains our annual rankings of the world's richest hedge funds. The following 20 top our list of best-performing hedge funds managing $1 billion or more.
Three of the top five funds in the Bloomberg Markets list invested in mortgage securities, and two of them are run by Minnetonka, Minnesota-based Pine River Capital Management LP. Betting on mortgage securities outpaced every other strategy, with an average return of 20.2 percent, against an industry average of just 1.3 percent, according to data compiled by Bloomberg.
Our rankings are based on data compiled by Bloomberg specialist Anibal Arrascue and information supplied by hedge-fund research firms, hedge funds and investors. Assets and returns are for the 10 months ended on Oct. 31, 2012.