Performance

Chicago, Boston hedge funds top long-term performance study

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Fund of funds Balter Capital's first ever ranking of returns by geography; Los Angeles and San Francisco are laggards.

New York City and Greenwich, Conn. are widely seen as the hedge fund industry's power centers, but investors would be better off with managers from Chicago, Ill. and Boston, Mass., according to a new study of returns by geography.
Balter Capital Management, a $1 billion Boston-based fund of funds focused on emerging managers led by Brad Balter, analyzed the performance of hedge funds in seven cities from 2000 to 2011. Apparently the first of its kind, the study ranks how funds in Boston, Chicago, Dallas, Greenwich, Los Angeles, New York and San Francisco performed during various time periods