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Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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Report: Chicago-Based Hedge Funds Perform Best

Jan 06, 2013
Jing Chen

A new report indicates that a hedge fund's returns may be correlated to its location. 

According to research firm Balter Capital Management's first-ever  "Hedge Fund Regional Performance Study," Chicago-based firms experienced the highest level of returns during the 12-year study. The study took the annualized returns of hedge funds in New York, Greenwich, Dallas, Chicago, Boston, Los Angeles and San Francisco from January 2000 to December 2011. 

On the other end of the spectrum,  Los Angeles, San Francisco and Greenwich were consistently the worse-performing cities during the same period. However, despite Greenwich's ill performance, it also saw the highest returns during periods of market stress.

Another interesting insight is that New York City, which is considered a hedge fund capital by many industry professionals, remained in the middle of the list for the duration of the study. The City also suffered the worst during the dot-com crash between 2000 and 2002 and the post-financial crisis slump in 2011.

Boston-based Balter chose the seven cities based on its ability to identify at least 30 hedge funds firms with valid long-term data for the 12-year period.

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