Performance

Financial bets boost Kinetics

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Kinetics Fund, the flagship global long/short equity strategy managed by Kinetics Advisers of New York, outperformed many peers in September due to a sizable bet on financial stocks.

The $4 billion fund, managed by Peter Doyle, Murray Stahl, Paul Abel and Paul Mampilly, netted 10.77% in September to put it up 25.85% for the year. By comparison, the Absolute Return Global Equity index returned 2.8% in September, for a 9.55% total year to date. Through October 12, the Kinetics fund had gained another 5.87%. Since inception in February 2001, the fund has averaged a net annual return of about