Funds
Andromeda Capital Management, a new hedge fund firm launched by former Algebris Investments’ money managers Alberto Gallo and Aditya Aney, has started trading in London, according to a report by Bloomberg.
In an interview with Bloomberg, the duo said the fund has secured $200 million from an undisclosed investor and capital from the firm’s partners. The firm, which specialises in credit and rates trading, is reportedly looking to grow assets to more than $1 billion.
The new firm, one of the largest hedge fund start-ups in Europe this year in an admittedly quiet year for launches, will employ a strategy
Bob Elliott, a former member of the Investment Committee at Bridgewater Associates, has launched Unlimited Funds, a new investment firm aiming to provide all investors exposure to the alpha-generating potential of alternative investment strategies without the high fees and adverse tax implications.
In conjunction with the launch, the firm announced its first product, the Unlimited HFND Multi-Strategy Return Tracker ETF, which uses a sophisticated machine learning engine to track the gross-of-fees returns across several hedge fund indices.
Elliott, the CEO and Chief Investment Officer of Unlimited, has built innovative hedge fund strategies for more than two decades, most recently at
A new hedge fund to be launched next year by DE Shaw and Point72 Asset Management alumni has secured multi-billion dollar backing from Millennium Management, according to a report by Bloomberg.
The report quotes unnamed sources as revealing that the as-yet unnamed firm is being set up by Andrew Komery, who was a managing director in DE Shaw’s fundamental equities group until early this year, and Alex Chacon, who most recently served as an analyst at Steve Cohen’s Point72.
As well as running its own hedge fund business, Millennium also sometimes invests alongside traders running or setting up independent firms,
The Waha MENA Equity Fund, the flagship fund of Abu Dhabi-based investment management company Waha Capital PJSC has been ranked in 15th spot in the latest survey of the world’s top hedge funds by veteran New York-based financial analyst, Eric Uhlfelder.
The fund has climbed seven spots in this year’s Global Investment Report rankings and is the only MENA-based hedge fund to feature in the top 50.
Since its inception in 2014, the Waha MENA Equity Fund has yielded a cumulative return of 280.6% (as of 31 August 2022), equivalent to an annualised net rate of return of 16.7%. In
Macro hedge funds surged in September, with strong contributions from currency and fixed income exposures as the US dollar extended record gains, the Federal Reserve increased interest rates in an effort to slow generational inflation, and US equities posted steep, broad-based declines.
The investable HFRI 500 Fund Weighted Composite Index fell -1.5 per cent for the month, though topped declines in US equities by over 700 basis points, as strong Macro performance was offset by declines across Equity Hedge, Event-Driven, and Relative Value strategies, according to data released today by HFR®, the established global leader in the indexation, analysis and
Recent market chaos has helped quant hedge funds make big gains with some now on track to rack up record annual returns, according to a report by Financial Advisor.
Kwasi Kwarteng’s mini budget of unfunded tax cuts sparked a dramatic plunge in pound and sharp rise in bond yields last month, providing further trading opportunities for the algo-driven funds, which who are designed to quickly pick up on momentum trades.
Among the big winners were Aspect Capital’s Diversified Programme, which returned 5.2% taking YTD gains to nearly 44%, according to an investor document, while the Tulip Trend Fund rose more
Systematic Alpha GP, an affiliate of Systematic Alpha Management (SAM) which manages the Systematic Alpha Intraday Trading Program, has launched the Systematic Alpha Cryptocurrency Arbitrage Fund trading pure arbitrage in digital assets on major cryptocurrency exchanges.
The fund started trading in May 2022, employing a proprietary pure arbitrage crypto strategy, which has been traded live using proprietary capital since February 2020. The seed capital for the Fund came from Bequant – an Institutional Prime Broker and Exchange which was recognised by HedgeWeek as the Best Digital Assets Prime Broker in 2022.
The fund trades exclusively bitcoin and ether futures and
Dan Yu, founder of research firm Gotham City Research, and Cyrus De Weck, who set up Portsea Asset Management, are teaming up to launch a new short-selling fund, General Industrial Partners, early next year, according to a report by The Financial Times.
The report cites a unnamed source as revealing that the pair are betting that a downturn in markets will help them replicate previous successful short bets against companies including Wirecard and Steinhoff.
Gotham City’s list of past short-selling successes include high-profile wagers against Spanish WiFi provider Let’s Gowex, which later filed for bankruptcy and admitted its accounts had
Said Haidar’s $4.3 billion Haidar Jupiter hedge fund is up 274% so far in 2022 – four-times it’s previous best ever annual performance – having chalked up a 19% gain in September alone, according to a report by Bloomberg.
The fund is one of a cohort of macro funds to have exploited recent market volatility to rack up big gains with the likes of Crispin Odey and Michael Platt also recording record profits. Rokos Capital Management and Brevan Howard Asset Management have also seen double-digit gains so far this year.
Like other rival macro funds, the key to Hiadar’s success
Ongoing market turmoil helped Citadel’s flagship hedge fund chalk up a 2.5% gain in September, taking year-to performance to 29%, according to a report by Bloomberg, with the firm’s three other hedge funds all generating double-digit returns too.
