FYI: Hedge funds were once high-octane, superstar-led investment funds generating double- and triple-digit returns. These days — as journalists lament and investors applaud — many of them are actually pretty boring.
Joseph Edelman didn’t get that memo.
Edelman, 63, founded his biotechnology hedge fund firm, Perceptive Advisors, in 1999. Since then the firm, which started with $6 million in assets, has swelled to $4.1 billion on the back of almost-unbelievable performance in its flagship hedge fund, the Perceptive Life Sciences Fund. That fund, which invests in biotech companies, particularly in the small- and midcap range, has generated annualized gains since inception of 30 percent net of fees — putting Edelman in a rarefied league of high-performing discretionary fund managers.
Last year was even better. For 2017, the fund’s 41 percent gain propelled Edelman to the No. 13 spot on Institutional Investor’s Rich List ranking of the 25 highest-earning hedge fund managers. That performance was the best of any on the list, and netted him a cool $525 million.
Regards,
Ted
https://www.institutionalinvestor.com/article/b19hj4gjrwh1x9/The-41-Man
