Hedge Funds

Taconic alters investment process

by

The firm has given more direct responsibility for performance to the portfolio managers after last year’s underwhelming results.

Taconic Capital Advisors recently changed the way its portfolio managers oversee their funds while freeing up senior portfolio manager Chris DeLong to focus on larger positions. So far, the results at Taconic, which was founded by former Goldman Sachs partners Frank Brosens and Ken Brody, have improved. Its largest funds are closely mirroring the indices and performing far better than in 2010.

Last year the firm’s flagship event-driven vehicle, Taconic Opportunity Fund, gained 5.02% while many of its competitors rocketed into the double digits, pushing the AR Event-Driven Index up 13.77%. The Opportunity funds managed $7.7 billion of