Poorly performing hedge-fund managers who do not count HSBC Private Bank as a client are breathing a sigh of relief today. That's because Dealbreaker got its hands on HSBC's weekly investment performance review for all of its funds and promptly published it for all the world to see.

The 47-page review lists the year-to-date and historical performance of hundreds of hedge funds across all investment categories.

The good news first: While the news in recent days has focused on hedge-fund redemptions and liquidations, some smart managers are making money even in this dismal environment.

John Paulson is nothing short of a phenomenal investor. After raking it in last year by placing smart bets against subprime loans, Paulson is again outperforming his peers consistently. Four of his funds landed in the "Top 20" list of performers year-to-date. Two of his other funds that didn't make that list are still in positive territory for the year.

The best performers are not household names among the hedge-fund community. Mark Malek's Conquest Macro Fund, up an impressive 41 percent, was in the top slot. Gerard Van Viet's cheekily named Tulip Trend Fund is up 40.5 percent for the year.

Now for the bad news. Many of the top 20 losing funds year-to-date have words like Russia, China, and Eastern Europe in their names. The biggest loss (88.1 percent) was suffered by the 788 China Fund (which incidentally made the "Top 20 Winners" in both 2006 and 2007).

The losses were so deep that number 20 on the losing list, the Boyer Allan Pacific Fund with a 43 percent drop, has lost more money year-to-date than the No. 1 losers did in 2007 and 2006.

Here are results from other notable names in the report that didn't make the top 20 winners or losers:

—John Meriwether's Relative Value Opportunity II Fund is down 26.1 percent this year.

—Steve Feinberg's Cerberus International fund has eked out a gain of 0.07 percent in 2008.

—Mario Gabelli's merger arb fund, the Gabelli Associates Class A, is down 9 percent.

—Phil Falcone's Harbinger Capital Offshore I Fund is down 5.4 percent.

—Daniel Loeb's Third Point Offshore has dropped by 21.3 percent so far this year.

—Mark Kingdon's Kingdon Offshore A/1 is down 19.9 percent for the year.

—Leon Cooperman's Omega Overseas Partners Class A has lost 22.4 percent.

—Jim Simons' RIEF LP B is down 23.5 percent.