For the first few months of 2016, it looked as if Hayman Capital LP was heading for one of the worst years on record. The hedge fund, managed by Kyle Bass was down by 10% for the first six months of 2016 and assets under management had dropped to just $770 million, down from $2.3 billion at the end of 2014.
- Hedge Fund Letters To Investors
- Q3 2016 Hedge Fund Letters
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China’s $34 Trillion Experiment Is Blowing Up – Kyle Bass
But Bass who is one of China’s most vocal bears held firm and his patience has been rewarded. Yahoo! Finance reported earlier today that thanks to riding savvy currency market and bond market bets, Hayman’s Hayman Capital Master Fund chalked up an impressive 24.8% return for 2016, erasing the first half losses. Over the same period, the S&P 500 returned 9.5%. Including the second half gains, since inception (2006) the Hayman Capital Master Fund has returned a cumulative 436.75% and an annualized return of 16.70%.
The Hayman’s China Opportunities Fund, launched in July to bet against the yuan, is up 5.97%.
Bass benefited from a rise in the dollar while betting against currencies including the yen, euro and yuan. He also profited from bets against the debt of the US, Japan and European nations.
Hayman Capital Remains Bearish
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