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Early-year gains help Qube boost assets to $20bn

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A 22% gain in 2024 up to the end of April at Qube Research & Technologies has helped boost assets at the London-based quant hedge fund firm from $16bn early this year to $20bn, according to a report by Business Insider.

The report cites unnamed people familiar with the matter in revealing that Qube had been up nearly 25% in the first quarter before losing money in April.

While hedge funds were up slightly on average last month and have gained nearly 6% for the year, according to Hedge Fund Research, the research firm’s HFRI index of quantitative directional strategies fell about 3%. Meanwhile, the S&P 500 fell 4.2% in April and finished the month with a year-to-date gain of 5.6%.

Qube’s strong start to 2024 — including a 10% gain in January — comes on the back of 20% returns in both 2023 and 2022.

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