The world’s 25 best-paid hedge fund managers took home a combined $21.1bn, 50 per cent more than in 2012, as surging equity markets helped them to one of their highest earning years since the financial crisis.
全球收入最高的25位对冲基金经理去年收入合计211亿美元，较2012年增长50%。股市向好，令2013年成为自金融危机以来他们收入最高的年份之一。
At a time when rising inequality and corporate pay is generating increasing debate on both sides of the Atlantic, David Tepper, the founder of the US hedge fund Appaloosa Management, was the world’s highest earning hedge fund manager last year. He took home $3.5bn and topped the list for a second consecutive year after wagering on the recovery of the US airline industry, according to the annual survey by Institutional Investor’s Alpha magazine published yesterday.
这些数据来自《机构投资者》杂志(Institutional Investor)《阿尔法》专刊(Alpha)昨日公布的年度调查结果。就在此际，收入不平等状况的加剧以及公司薪酬的不断上涨，正在大西洋两岸引发更多辩论。调查显示，美国对冲基金Appaloosa Management创始人大卫•泰珀(David Tepper)成为去年全球收入最高的对冲基金经理，去年收入高达35亿美元，连续第二年蝉联榜首，这得益于他此前押注于美国航空业的复苏。
Steven Cohen, founder of SAC Capital, was the second highest earning hedge fund manager, in a year when his firm was forced to pay a record $1.8bn fine to settle an insider trading case and close his fund to outside investors.
SAC资本(SAC Capital)创始人史蒂文•科恩(Steven Cohen)名列第二。而在去年，他的公司被迫支出创纪录的18亿美元罚金以了结一宗内幕交易诉讼，并向外部投资者关闭其基金。
Mr Cohen, who typically charges his investors performance fees of 50 per cent of all profits, made $2.4bn last year.
科恩去年收入24亿美元。他的收入大多来自向投资者收取的占全部利润50%的绩效费。
Since devoting itself solely to managing Mr Cohen’s personal fortune, SAC Capital has changed its name to Point72 Asset Management.
自去年诉讼以来，SAC资本已更名为Point72 Asset Management，专门负责管理科恩的个人财产。
The survey only includes managers that are open to outside investment, so he is likely to drop off future lists.
《机构投资者》的这项调查仅针对向外部投资开放的对冲基金的经理。因此，科恩可能会从未来的榜单中消失。
The third highest hedge fund earner was John Paulson, who made his name successfully betting against the US housing bubble. He took home $2.3bn as large bets on financial stocks helped his Paulson & Co’s Recovery Fund surge 63 per cent last year.
曾经因成功押注于美国房地产泡沫破裂而一举成名的约翰•保尔森(John Paulson)位居季军。他的收入为23亿美元，其公司Paulson & Co旗下的复苏基金(Recovery Fund)因大规模投注金融类股票，去年飙涨63%。
While the top managers sharply increased their earnings in 2013, most hedge funds did not manage to beat the wider market. Last year US equities rose more than 32 per cent, but the average hedge fund returned 9 per cent, according to an analysis of funds by the data provider Hedge Fund Research.
尽管收入最高的对冲基金经理去年的收入大幅增加，但多数对冲基金未能成功跑赢大盘。根据数据供应商对冲基金研究公司(Hedge Fund Research)的分析，去年，美国股市上涨逾32%，而对冲基金平均回报率为9%。
Hedge funds typically adopt a fee structure known as “two and 20”, or 2 per cent of all assets under management and 20 per cent of profits, meaning managers can earn large sums regardless of their fund’s performance.
对冲基金一般采用“2加20”的费率结构，即收费为管理资产总额的2%以及利润的20%。这意味着不管基金表现如何，基金经理都能斩获巨额收入。
Institutional Investor’s Alpha calculates the earnings based on what fees the hedge fund charges its investors, which can vary from fund to fund, and also based on the stake managers hold in the management company that earns the fees.
《机构投资者》的《阿尔法》专刊是根据对冲基金向投资者收取的费率计算收入的，而各家基金的费率各有不同，同时还根据基金经理在赚取收费的管理公司持有的股权计算收入。
While he has not actively managed money for many years Jim Simons, the motorbike-riding code breaker who founded the computer-based trading fund Renaissance Technologies, came in at fourth on the list, earning $2.3bn, due to his control over its management company.
榜单上排名第四的是电脑化交易基金复兴科技公司(Renaissance Technologies)的创始人吉姆•西蒙斯(Jim Simons)，他曾是一位骑摩托车的密码破译员。尽管多年来他都没有积极管理资金，但由于他在公司的控股权，去年收入23亿美元。
Other top 10 earners included Dan Loeb, the activist investor famed for penning aggressive letters against corporate managers that attract his ire, who earned $700m last year, placing him ninth on the list, and Ray Dalio, founder of Bridgewater, the world’s largest hedge fund by assets, who made $600m in a year where his funds failed to break double-digit returns.
其他排在前10位的对冲基金经理还包括，以措辞激烈地致信给激怒他的企业管理者而闻名的维权投资者丹•勒布(Dan Loeb)，他去年赚得7亿美元收入，位居榜单第9位。全球资产规模最高的对冲基金Bridgewater的创始人雷•戴利奥(Ray Dalio)去年获得6亿美元收入，而他的基金未能在去年取得两位数的回报率。
Paulson & Co and Mr Tepper declined to comment. Other hedge fund managers named could not be reached for comment.
Paulson & Co和泰珀拒绝置评。记者未能联系到其他文中提到的对冲基金经理发表评论。