A handful of sizeable funds in the Absolute Return database stand out for their outstanding returns over the past five years. Interestingly, all five funds deployed different strategies to achieve their results.
The fund with the highest cumulative return by far is Toronto-based Dynamic Power Hedge Fund, which returned over 934% between January 2003 and December 2007. Those gains were fueled by event driven plays. Taking second place is Passport Capital's Passport I, a global long/short equity fund which returned over 634%, owing in part to a fantastic 2007, when it gained 218% on partly subprime mortgage bets.