Funds
Goldman Sachs’ $127 million Hedge Industry VIP exchange traded fund (GVIP), which scans 13F filings to build a portfolio of popular hedge fund picks, is up more than 16% so far this year, ahead of the S&P 500’s 10% return over the same period, according to a report by Bloomberg.
GVIP’s 2023 three largest holdings are largely behind its outperformance, and they’re all AI-related chipmakers: Nvidia Corp, Broadcom Inc, and Advanced Micro Devices Inc.
All three have surged over the past month on the hype around so-called generative AI. While GVIP has historically lagged the S&P 500 since its inception
Hedge fund industry redemptions continued in March with $18.31 billion in net outflows, representing 0.37% of industry assets, according to the Barclay Fund Flow Indicator published by Backstop BarclayHedge.
Hong Kong based long-short equity hedge fund firm Rockhampton Management, which also has an office in Tokyo, is going back to its Japan-focused routes after deciding to shutter its pan-Asia hedge fund, according to a report by Bloomberg.
Hedge funds gained 0.32% in April, according to the performance of the SS&C GlobeOp Hedge Fund Performance Index for the month. Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index, meanwhile, advanced 0.16% in May.
“SS&C GlobeOp’s Capital Movement Index for May 2023 shows net flow growth of 0.16% into hedge funds,” said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “This is a quiet month of activity as investors assess the opportunity set of investments in the context of monetary and macro-economic uncertainty.”
The SS&C GlobeOp Hedge Fund Performance Index is an asset-weighted, independent monthly
Tadaoki Kokusai, a multi-platform wealth and asset management firm, has launched the Responsive Alternative Strategies Fund, a hedge fund replication fund which the company says complements its existing hedge fund, private equity, real estate, and diversified alternatives offerings.
Tadaoki Kokusai says the new mutual fund offers daily liquidity and a way for investors to access a wide range of alternative strategies that may be used to supplement traditional equities and fixed income investing.
The fund uses Tadaoki-Kokusai’s hedge fund replication approach, which aims to create returns based on basic underlying hedge fund strategies. The firm says the fund will be
Brahman Capital Corp’s stock-picking hedge fund is to close after over 30 years of trading following losses in the past two years, according to a report by Bloomberg, citing unnamed sources familiar with the matter.
Long-short equity hedge fund manager Peconic Partners has reclaimed the number one spot on HedgeFollow’s Top 20 Best Performing Hedge Funds list, with a three-year performance figure of +191.50%, according to the latest rankings from the hedge fund tracker.
Peconic, which, according to Preiqn was founded by William Harnisch in 1986, currently manages $1.1 billion in two hedge fund strategies – a long-short equities fund and an insurance linked vehicle.
In compiling the Top 20 Best Performing Hedge Funds list, HedgeFollow tracks regulatory filings of over 10,000 institutional investors to independently identify top-performing funds across multiple strategies.
Cryptocurrency hedge fund firm BXB Capital, which is owned by Binance Korea’s co-founders JJ Petersen and Alex Friedberg, is looking to raise $27 million for a new fund, with all capital commitments being made exclusively in bitcoin, according to a report by Fortune.
The new vehicle, which Singapore-based BXB hopes to launch in July of this year, has reportedly so far attracted 400 BTC, around $10 million, from investors.
As well as raising capital in bitcoin, all of the new fund’s trading strategies will also be carried out in the world’s largest cryptocurrency with any investor returns being made in
Maitri Capital is looking to raise $250 million to support the launch of a new AI and machine-learning-powered quantitative trading fund – the Maitri Cento Quant Fund – which the company says will offer an “innovative investment strategy”.
Maitri says the new fund will leverage advanced data science techniques to make data-driven investment decisions in real-time, providing investors with a unique opportunity to benefit from the latest technological advancements in the field.
The Maitri Cento Quant Fund is an Alternative Investment Fund awaiting registration with the UK’s Financial Conduct Authority. The firm is supported by a network of tier one
Hedge funds recorded another positive month in April, with a total weighted average return of 1.1%, taking YTD returns to 5.58%, according to the latest data from Citco, a global alternative investment asset servicer with one $1.8 trillion in assets under administration.
