Investors who stuck with alternatives giant GLG Partners after the departure of star hedge fund manager Greg Coffey a year ago have been rewarded for staying put, as the fund he previously managed has outstripped the returns of the Australian's new fund at Moore Capital.

Coffey handed in his notice at GLG in April 2008 in a well-publicised move that saw him turn his back on at least $250m (€166m) in bonuses and shares options to leave the firm.