HeadStart Advisers’ HeadStart Fund of Funds has won The Hedge Fund Journal Performance Award 2025 for Highest Absolute Return over 5 years ending in December 2024, in the Fund of Funds strategy category.
Since 2020, the fund has averaged midteens net returns with three calendar years in excess of 20%, including 2022 when it beat the average fund of hedge funds by about 25 percentage points. The strategy has lived through four major bear markets: the TMT bubble of 1999, the GFC of 2008, Covid in 2020
and the rate rise panic in 2022. Some multi-manager vehicles are optimized to minimize volatility while HeadStart retains the mentality of a 1990s hedge fund manager seeking double digit returns. HeadStart have averaged roughly half the volatility of the S&P 500 through a full cycle, but importantly performance has averaged flat or up during down months for the S&P 500.
Read the full hedge fund journal article here.
