Funds
Volatile currency moves in 2025 have pushed emerging market foreign exchange into the spotlight, with trading volumes surging and hedge funds and banks reporting strong gains from the swings, according to a report by Reuters. Activity in the Hungarian forint has more than doubled since January, traders said, as investors reposition amid heightened global uncertainty and a weakening US dollar.
Turkish authorities are considering measures to significantly tighten access to hedge funds for retail investors following market disruption last month, according to a report by Bloomberg. The proposals are aimed at strengthening protection for smaller investors from riskier trades.
Australian hedge funds Totus Capital and Sage Capital posted improved performance in November, benefiting from a sharp rise in market volatility and a rotation away from crowded momentum trades, after a difficult period for short-biased strategies, according to a report by AFR.
Peconic Partners, the New York-based hedge fund run by veteran investor Bill Harnisch, delivered a 79% return in 2025 despite maintaining a cautious macro outlook and low net exposure throughout the year, according to a report by Bloomberg.
Hedge fund performance and inflows strengthened into year-end, according to the latest SS&C GlobeOp indices, with the firm reporting a 1.22% gross return for November and continued positive capital movements in December.
Ilex Capital Partners, the equity long-short multi-manager launched in London by former Citadel traders Jonas Diedrich and Dave Sutton, has grown to around $7bn in assets following a fresh capital raise and continued performance gains, according to a report by Bloomberg.
New hedge fund launches are on the increase across Dubai and Abu Dhabi, as Senior Portfolio Managers from global multi-strats set up their own ventures – with many backed not by local sovereign wealth, but by major allocators in the US and Europe, according to a report by Bloomberg.
Hedge funds with heavy exposure to biotech, including Perceptive Advisors, have posted some of the industry’s strongest returns in 2025, fuelled by a surge in large-cap pharma M&A and the sector’s sharpest rally in a decade, according to a report by the Financial Times.
Jack Woodruff, a former Citadel equities trader who launched Candlestick Capital in 2019, is shutting down the $2.1bn hedge fund after performance failed to meet his “extremely high standards,” according to a report by Bloomberg.
Saba Capital’s flagship fund is on track for a disappointing year, with the $1.9bn vehicle down 6.5% year-to-date to 21 November, extending a multi-year period of weak performance for the credit-focused strategy, according to a report by the Financial Times.
