Funds
Chase Coleman’s technology-focused investment manager Tiger Global is exploring options to cash in a part of its $40 billion portfolio of privately held companies through secondary market sales, according to a report by Bloomberg.
On-going bouts of market volatility coupled with the current turmoil in the banking sector have seen global hedge fund launches slump to the lowest level seen since 2017, according to a report by Reuters, citing information from data services provider Preqin.
Hedge funds posted gains in April as managers navigated the banking turmoil and volatility that accelerated throughout the month and extended into May with the closure and distressed acquisition of First Republic Bank, according to HFR.
Moritz Seibert and Moritz Heiden, the duo behind Twoquants.com, a website launched in 2018 to write about quantitative trading strategies, have launched Takahē Capital, a hedge fund that provides investors with access to their quantitative trading strategies, according to a report by AlphaWeek.
London-based digital assets held fund manager Nickel Digital Asset Management (Nickel), has reported strong performance for its multi-manager Diversified Alpha Fund, with the fund outperforming comparable hedge fund indices this year.
Data from Nickel, which was founded four years ago by alumni of Bankers Trust, Goldman Sachs and JPMorgan to provide institutional-grade access to the digital assets market, shows its Diversified Alpha Fund has delivered an estimated +7.5% return YTD to 30 April 2023, strongly outperforming major indices in its sector including the HFRX Absolute Return Index (0.0% YTD); the HFRX Global Hedge Fund Index (+0.3% YTD) and the HFRX
A $12.7 billion venture capital fund set up by New York-based hedge fund Tiger Global Management in October 2021 to support tech startups, has been hit hard by a decline in tech sector valuations with the fund suffering a 20% net loss as of December last year, according to reports.
Hilbert Capital, the asset management business of Hilbert Group AB has launched its third systematic fund which will aim to take advantage of volatility in digital asset markets through algorithmic trading and can take long as well as short positions.
The new Hilbert V30 Fund opened to external investors on 1 May 2023, although Hilbert first deployed capital to the strategy a year ago, just prior to the digital assets market collapse in May 2022.
Since then the wider crypto market is down around 35% while Hilbert V30 has generated positive returns of 17%, which the firm says represents more
Hedge funds continued to rebound with even better weighted average returns in the first quarter of this year than Q4 2022, with Multi-Strategy and Equities funds continuing as the top performers, according to a data released by Citco.
Data from the fund administrator, which has over $1.8 trillion in assets under administration (AUA), saw an overall weighted average return of 4.49% in the first quarter of this year – up from 4.11% in Q4.
All fund strategies delivered positive returns with the exception of Commodities at -2.2% and Global Macro at -1.14%. Multi-Strategy and Equities funds bettered their Q4
Hedge funds lost 0.46% in March according to the gross return of SS&C Technologies’ GlobeOp Hedge Fund Performance Index for the month. Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index meanwhile, declined 0.56% in April.
“SS&C GlobeOp’s Capital Movement Index for April 2023 was -0.56%, consistent with quarterly asset allocation patterns,” said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies.
“The collapse of several US regional banks in March coupled with a Fed rate hike created a catalyst for higher market volatility. Hedge fund flows continue to be steady as they provide an attractive allocation
Digital asset investment products saw outflows totalling $30 million last week, bringing to an end a six-week run of inflows, according to the latest Digital Assets Fund Flows Weekly Report from CoinShares.
The outflows began on 14 April when bitcoin passed the ‘psychological threshold’ of $30,000, suggesting the most recent sell-off was a result of profit-taking, particularly in the absence of any macroeconomic triggers.
Ether, meanwhile saw inflows totalling $17 million last week, suggesting there is increasing confidence amongst investors following the implementation of the Shapella.
