Funds
Hedge funds’ strong performance in January has been backed by numbers from another provider, with Bloomberg data providing more evidence that funds caught the upswings in equities and cryptocurrencies.
New research from quant technology provider SigTech, drawing on data from Preqin and insights from various hedge fund managers, reveals that roughly 30,000 hedge funds are currently operating globally. The US dominates the industry with a market share of 65%, followed by the UK (8.8%) and Hong Kong (3.5%).
Quant trading specialist DE Shaw & Co has closed its first dedicated private equity fund with more than $450 million in capital commitments, falling just sort of the fund’s $500 million target, which was set a year ago, according to a report by Bloomberg.
Global hedge funds recorded a 2.8% gain in January, but expectations of a continued bear market meant industry performance lagged broader stock market indices over the month, according to the latest performance data from HFR.
All four major hedge fund strategies ended the month higher, led by equity hedge funds with a 4.24% gain, a notable turnaround for a category that posted major losses in 2022.
By comparison, the Nasdaq recorded its best January performance since 2011 with a 10.7% gain, while the S&P 500 advanced 6.18% over the month.
The investable HFRI 500 Fund Weighted Composite Index jumped +2.5%
Uncertainty over how a recession might hit European corporate debt has prompted Arini, a $2.3 billion hedge fund run by a former Credit Suisse banker, to unveil plans to launch two new credit funds this year, according to a report by Reuters.
Haidar Capital’s Jupiter Fund, which follows a high conviction, highly leveraged, macro strategy, has slumped around 13% so far this year following a record gain of 193% in 2023, according to a report by Bloomberg.
Citadel, the hedge fund firm founded by Ken Griffin, has extended its 2022 winning streak, which saw it chalk up a record $16 billion annual gain, into January, with the firm’s flagship Wellington fund posted a 2.08% increase during the month, according to a report by Reuters
BNP Paribas has launched a revamped version of the THEAM Quant – Europe Target Premium fund for continental European investors across the UK, Switzerland, Germany, Italy, France, Spain, and Benelux.
Union Bancaire Privée has partnered with Brigade Capital Management, to launch a new credit alternative fund on its alternative UCITS platform, U ACCESS (Ireland) UCITS,  the U Access (IRL) Brigade Credit Long Short UCITS which employs a credit long/short strategy.Â
With multi-strategy hedge funds proving a big draw for investors, exchange-traded fund provider and asset manager First Trust Advisors is looking to get in on the act with the launch of a new actively managed ETF, the First Trust Multi-Strategy Alternative ETF.Â
