Davidson Kempner Capital Management, the 13th largest hedge fund management firm in the world, is having one of its best years in its International fund. It’s not the absolute returns that are so stunning – the 4.08% returns in its Class C Tranche 3 (USD) fund are tracking near the fund’s historical average return. What is perhaps most noticeable to professional hedge fund allocators is the unusually low volatility profile used to achieve those returns, a recent investor document viewed by ValueWalk reveals.