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5/10/16

Hedge Funds: Top 10 hedge fund honchos netted $10 bn in 2015

Ten top US hedge fund honchos collectively made over $10 billion personally in 2015 after racking up huge profits in extremely volatile markets that left rivals in the red, according to a report Tuesday.

Tied for the top spot with $1.7 billion in income for just one year were Citadel's Kenneth Griffin and Renaissance Technologies' James Simons, according to the annual hedge fund "rich list" published by Alpha Magazine.

Three other hedge fund gurus also banked more than $1 billion apiece: Bridgewater Associates' Raymond Dalio and Appaloosa Management's David Tepper, each with $1.4 billion, and Millennium Management's Israel Englander, with $1.15 billion.

The article pointed out some prominent no-shows on this year's list, including John Paulson of Paulson & Co., Leon Cooperman of Omega Advisors and Daniel Loeb of Third Point. Funds of all three finished 2015 in the red, Alpha said.

Others missing from the top 10 were Nelson Peltz and Bill Ackman.

The median take for the list of top 25 hedge fund earners was $275 million, the lowest level in five years.
About half of all hedge funds lost money in 2015, Alpha said.

The S&P 500 finished 2015 with a loss, snapping a three-year winning streak.

 Read more: Flash - Top 10 hedge fund honchos netted $10 bn in 2015 - France 24

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