Funds
400 Capital Management, an alternative credit asset manager specialising in structured credit with over $5.7 billion of capital under management, has held the final close of its Asset Based Term Fund III with $580 million of committed capital.
Citadel, the hedge fund firm founded by billionaire investor Ken Griffin, saw its gains so far in 2023 reach almost 32% following another month of positive performance in November, according to a report by CNBC.
Big price swings and talk of a new supercycle have brought commodity hedge funds back into favour with investors after years of being largely ignored, according to a report by Bloomberg.
The report cites preliminary data from Bridge Alternative Investments as revealing that the top 15 commodity-focused hedge funds have increased their assets by 50% this year to a combined $20.7 billion. Some new players in the space have already closed to new investors, while big macro firms are on the look out for top talent as they boost their commodities teams.
The new breed of manager attracting investor interest
Growth Creek, a New York-based quant hedge fund, has surprised analysts with a stronger than expected Q3 earnings report that showed it gained a massive 20% against the Dow Jones Industrial Average.
In a recent conference call with investors, Managing Director Blake Davis stated that the firm’s “investment approach integrates stringent risk management strategies while methodically identifying catalysts for growth, value-oriented opportunities, and transformative impact. The fact that this impressive run occurred during an extremely bearish time for the market “is a testament to our rigorously disciplined approach to risk allocation and the dynamic methodology utilised by our proprietary in-house
Markov Processes International, an independent FinTech provider of software and services for analysing investment performance and risk, has released eight-year performance data for its MPI Eurekahedge 50 Tracker Index, which it says indicates that its basket of liquid, retail exchange-traded funds can deliver the performance of a diversified portfolio of institutional-quality hedge funds.
iM Global Partner is to launch a new UCITS fund, the iMGP DBi Managed Futures Fund with its Partner, Dynamic Beta investments, to enable European investors to access the increasingly popular managed futures market.
Negative investor sentiment towards digital asset investment continued last week on the back of the fallout from the collapse of FTX with outflows totalling $23 million, according to the latest data from CoinShares.
The company’s latesDigital Asset Fund Flows Weekly report shows that short investment products saw a mixture of inflows and outflows that varied across providers, while long-only investment products predominantly saw outflows.
Ether saw minor outflows totalling $6 million while the large inflows into short products seen the previous week were completely reversed with an outflows of $15.2 million.
Blockchain equities are also suffering from the FTX collapse,
Galapagos Capital, a hedge fund based in São Paulo, Brazil, is to recruit a six-strong team to support the launch of a new US-registered macro fund focused on emerging markets in 2023, according to a report by BNN Bloomberg.
Man Group is preparing to launch a dedicated cryptocurrency hedge fund despite the current turmoil in the market sparked by the collapse of Sam Bankman-Fried’s digital exchange operator FTX, according to a report by Bloomberg.
Brilliance Asset Management, one of Asia’s largest China-focused hedge funds, chalked up a 16% loss in October after a bet on electric vehicle maker Li Auto went awry, according to a report by Financial Post.
The report cites unnamed sources as revealing that the loss left the Hong Kong-based firm’s flagship fund down 40% YTD at the end of October, despite a strong performance in June.
According to data from Eurekahedge, other China-focused long-short funds have posted an average decline of 21% over the same period.
The firm’s smaller retail UCITs product – Brilliance China Core Long Short Fund
