Funds
Citadel’s flagship Wellington fund delivered a strong performance in July, benefiting from the acquisition of a discounted portfolio of artificial intelligence-related equities from hedge fund Situational Awareness following the firm’s rapid deleveraging during the recent market correction, according to report by the FT.Â
The sharp losses suffered by AI-focused hedge fund Situational Awareness were driven by concentrated, leveraged positions in crowded trades rather than a coordinated assault by short sellers, according to a report by Bloomberg citing analytics firm S3 Partners.
TOP STORY: Global hedge funds surrendered almost three percentage points of performance in July as a sharp reversal in technology stocks triggered losses across multiple strategies, although the industry remains up around 8% for the year, according to a report by users citing JPMorgan analysis.
FIFTHDELTA, the $1.5bn hedge fund founded by former Citadel portfolio managers Niall O’Keeffe and Tio Charbaghi, generated an 8.6% return in July, capitalising on sharp market swings that caught many technology-focused managers off guard, according to a report by Bloomberg.
Asia-focused hedge funds suffered widespread losses in July as a sharp reversal in AI-related stocks triggered what Goldman Sachs’ prime brokerage business described as the worst month on record for regional equity long-short managers, according to a report by Bloomberg.
Millennium Management managed, by Izzy Englander (pictured) posted a 2.1% loss in July as the sharp reversal in artificial intelligence and semiconductor stocks dented equity portfolios across the hedge fund industry, according to a report by Bloomberg.
Coatue Management suffered its steepest monthly decline in more than a year in July, as the sharp sell-off in artificial intelligence and semiconductor stocks weighed heavily on the technology-focused hedge fund, according to a report by Bloomberg.
AQR Capital Management’s rapid rise to become the world’s largest hedge fund manager has been driven not only by investment performance but also by surging demand for sophisticated tax-aware investment strategies among wealthy individuals, according to a report by Bloomberg.
Senior Millennium Management portfolio manager Farzad Kassam is preparing to launch his own hedge fund next year, with backing from Izzy Englander’s multi-strategy investment firm in the latest example of established platforms seeding new managers, according to a report by Bloomberg.
A hedge fund managed by Hong Kong-based Jupiter Research Capital lost more than 40% of its value in July, highlighting the severe impact that the global sell-off in AI-related stocks has had on quantitative investment strategies, according to a sport by Bloomberg.
