Funds
Nine hedge funds run by former Hillhouse Capital staff or backed by Hillhouse founder Zhang Lei, have been hit hard by China’s tech sector stock crash, according to a report by Business Times.
Along the losers are Franchise Capital Management, which has lost two-thirds of its value in the 14 months to April, Brilliance Asset Management’s whose flagship fund lost 27 per cent in the first four months of 2022, while a retail version dropped 47% from a February 2021 peak to 2 Jun. CoreView Capital Management and Snow Lake Capital also saw losses.
Los Angeles-based hedge fund AlphaTriAI is rising funds for two new portfolios which will aim to reduce the volatility of the digital assets by investing in a broad range of popular cryptocurrencies, including bitcoin and ether, according to a report by Financial Review.
Both bitcoin and ether have suffered sharp drops in value recently during a broader period of digital assets volatility, but the new portfolios will employ AI to to identify potential future growth periods for up to 40 cryptocurrencies and then spot when technical factors indicate near-term selling pressure so that holdings cab be shorted accordingly.
One of
Fulcrum Asset Management has launched two new Cayman-based strategies, the Fulcrum Inflation Protection Strategy (FIPS) and the Fulcrum Discretionary Macro Strategy (FDM).
Both are managed by Fulcrum’s CIO, Suhail Shaikh, and supported by a team of around 40 investment specialists covering all major asset classes. FIPS launched with $400 million and FDM with $50 million.
The investment objective of FIPS is to provide strong positive returns in the event of significantly higher than expected global inflation that results in low returns to traditional assets. The Fulcrum Discretionary Macro Fund meanwhile, ‘mirrors’ the £700m segregated mandate that Fulcrum won last
The gross return of the SS&C GlobeOp Hedge Fund Performance Index measured -1.30% in in May.
Investcorp-Tages has launched Selwood Asset Management’s latest fund on its UCITS platform.
SureFire Capital, a Canadian multi-strategy hedge fund manager, returned 22.1% in April, with preliminary figures also indicating a 10%-plus uplift in May, according to a report by AlternativesWatch.
SureFire Multi-Strat LP, the Montrreal-based firm’s quantitative stray, focuses on the Nasdaq-100 Index and incorporates trend, momentum and volatility factors.
Family office Surefire, which was founded in 2013, allocates to underlying managers via a separately managed account (SMA) structure.
The tech stock rout continues to hit hedge funds hard with Maverick and Lone Pine both seeing falls of around 30% so far this year, according to a report by Bloomberg.
The funds, run by Lee Ainslie and Steve Mandel, respectively have joined several other Tiger Cubs on the list of tech stock losers.
Maverick Capital main hedge fund saw a loss of 32.5% up to the end of May, according to people familiar with the results on the back of bets on South Korean e-commerce giant Coupang Inc and Amazon.com Inc
Mandel’s Lone Pine, meanwhile slid about 30% in
Coinciding with the company’s 10-year anniversary of factor investing in credits, Robeco has launched RobecoSAM QI Global SDG & Climate Multi-Factor Credits, its first SDG and climate-focused quant fixed income strategy, classified as Article 9 under the SFDR.
While the strategy’s performance is driven by Robeco’s multi-factor credit selection model, which has been applied to client portfolios since 2012, it has sustainability as its primary objective. Committing to carbon footprint reduction, the strategy is measured against the Solactive Paris-Aligned Global Corporate Index, with the portfolio’s average carbon emissions kept below the Paris-aligned credit benchmark. This has 50% lower carbon emissions
Crispin Odey has wiped out years of losses at his Odey European Inc hedge fund so far in 2022 with the fund up 110% since the turn of the year, according to a report by BNN Bloomberg.
The report cites an investor document as revealing that the fund was up 14% alone in May, with this year’s gains coupled with a 54% uplift last year propelling the fund back to a level last seen in 2015.
Having reached its high watermark, the fund can once again begin charging incentive fees.
Dan Sundheim’s D1 Capital Partners, a hybrid hedge fund that bets on both public and private companies is down 22.5% so far in 2022, according to a report by Bloomberg.
The fund’s biggest share class, which invests half of its assets in equities and the rest in startups, lost 4% last month, with its portfolio of stocks falling 13%.
According to unnamed sources quoted in the report, D1’s public market portfolio has fallen 44% so far this year, while its book of closely-held companies is down by 8%,
