Diamondback Capital, one of the hedge funds raided yesterday by the FBI, returned three times as much as hedge funds with a similar investment strategy since its 2005 launch, Bloomberg reports.
An investor letter showed that the firm "gained 73% from mid-2005 through July this year," whereas hedge funds that also use a multistrategy approach, only gained 22%.
Diamondback has approximately $5.8 billion AUM, and this year returned ~6.3% YTD.
That is a massive nosedive compared to its ~23% returns this time last year. It surged ahead of its peers between 2006 and 2008, but since then it has lagged behind its competitors.
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http://www.businessinsider.com/diamondback-capital-returns-multistrategy-2010-11#ixzz167vrrzVI
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