Gates Capital Management: Performance Improves After Fund Repositioning

Gates Capital Management’s flagship ECF value fund added 9.7% net in the third quarter of 2020. That is according to a copy of the firm’s latest investor update, which ValueWalk has been able to review. Q2 2020 hedge fund letters, conferences and more Following this performance, the fund remains down 6.8% year to date. Over the past three years, it has returned 1.3% annualized. Since inception (06/01/96), the flagship fund has produced an average annualized return of 12.9% for its investors, compared to 7.4% for the HFRI Event-Driven Index. For more up-to-date hedge fund content, and exclusive access to value-focused hedge…