Funds
The hedge fund industry built on its prior month’s gains in April, returning 0.41% for the month, according to the Barclay Hedge Fund Index compiled by BarclayHedge. By comparison, the S&P 500 Total Return Index gained 1.56% in April.
For the year to date, the hedge fund industry has returned 2.73% through the end of April. The S&P 500 Total Return Index was up 9.17% over the same period.
Hedge fund subsectors gaining ground in April outnumbered losers by nearly three-to-one. The Emerging Markets MENA Index was the month’s pacesetter, advancing 7.62%. It was joined on the rostrum by
New York-based hedge fund manager Scopia Capital Management is to launch a new market neutral UCITS fund – the Scopia Market Neutral Strategy – on Kepler Partners’ Kepler Liquid Strategies (KLS) UCITS platform at the end of the second quarter of the year.
Syz Group has partnered with Crest, the hedge fund selection arm of Hong Kong crypto manager CMCC Global, to launch SyzCrest Digital Uncorrelated, a new fund of crypto hedge funds, which will be available to investors from 1 July.
The firms say the strategy for fund raising has been designed for the fund to scale quickly to $300 million with capacity options provided to early investors.
Syz Capital, Syz Group’s alternatives business will be the investment manager of the strategy with CMCC Global acting as sub adviser.
SyzCrest is the industry’s first alpha-focused crypto portfolio to be managed by a
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
