Those hedge funds who have the highest absolute returns are often those that receive significant media attention, including on ValueWalk. But in reality to a certain breed of allocator, the real performance stars seldom if ever make it onto the HSBC Hedge Weekly top 20 – and importantly generally stay off the bottom 20 as well. These are the volatility managers, those who deliver reasonably consistent returns with lower standard deviation, a prized possession for certain allocators. This concept speaks to mean reversion


