World's top 10 hedge fund managers earn US$20.1 billion in 2020

NEW YORK: Millennium Management's Israel Englander earned US$3.8 billion last year, landing him the biggest payday of any hedge fund manager in 2020, showed data from Institutional Investor.

Englander more than doubled his US$1.5 billion payday in 2019 and made US$2 billion more than the previous year's rich list leaders Chris Hohn and Jim Simons, while making gains of 26per cent for his investors.

The top 10 hedge fund managers globally earned US$20.1 billion in 2020, a 50.2per cent rise from US$13.4 billion in 2019, against the backdrop of volatile markets amid the coronavirus pandemic.

Hedge funds made gains of 11.7per cent on average in 2020 amid a huge sell-off in March and large economic shutdowns following the emergence of the novel coronavirus, according to data from Hedge Fund Research.

But top 10 averaged returns of 43per cent in 2020, with Coatue Management making 65per cent, Renaissance Technologies racking up 76per cent and Tiger Global Management 48per cent, the data from Institutional Investor showed.

All of the top 10 hedge fund managers made over US$1 billion in 2020, compared with eight in 2019.

Renaissance Technologies' James Simon earned US$2.6 billion last year while Tiger Global Management's Chase Coleman made US$2.5 billion and Citadel's Ken Griffin landed US$1.8 billion.

Pershing Square's Bill Ackman made up the last spot on the top 10, with a US$1.4 billion pay cheque after not featuring on the list in 2019.

(Reporting by Maiya Keidan; Editing by Steve Orlofsky)