Elliott Associates Up 13% In 2012; Loss on Gold Options

Elliott Associates L.P. returned 13.4 percent in 2012, according to sources close to the matter. The fund, which was created by maven Paul Singer in 1977, had a 2012 that came in broadly in line with its own returns from previous years, but lagged the S&P 500 (INDEXSP:.INX) return of 16 percent for the twelve-month period. The most recent news  surrounding the hedge fund is the large stake taken in Hess Corp. (NYSE:HSS), the oil an gas producer. Elliott Associates is an extraordinarily opaque hedge fund, even as hedge funds go, and its low exposure to equities means it doesn’t have…