Funds
Larger hedge funds’ performance in 2020 remains “significantly” below industry averages, according to new industry stats, suggesting that bigger may not necessarily be better when it comes to managers recouping losses suffered earlier in the year.
The ten largest hedge funds reporting to eVestment remain some 4.61 per cent in the red year-to-date, despite posting a 1.31 per cent gain in July.
In contrast, hedge funds overall are now flat for the year, at 0.00 per cent, having registered a 3.43 per cent rise last month to successfully claw back losses suffered in H1.
“Size appears to be something of
Hedge funds betting against Asos have seen their positions squeezed as the online fashion retailer’s share price surged further this week following upgraded profit forecasts.
PGIM Investments has partnered with iCapital Network to provide HNW clients with access to a range of alternative investments including private equity and hedge funds.Read the full story at Wealth Adviser…
Project One, a ‘next generation’ AI-powered hedge fund has set it sights on generating returns similar to Renaissance Terchnologies’ fabled Medallion fund, the granddaddy of quant funds. Project One, the brainchild of Andrew Sobko and Rami Jachi, is powered by a 100 per cent model-driven, alpha-learning, AI algorithm designed to pinpoint market demand projections while actively applying real-time data analysis insights without human interruptions.
The Project One hedge fund, is targeting USD1 billion under management by 2021 and projects an average of 60 per cent annualised returns, similar to the performance of the Medallion fund which is famed for achieving returns
The Super ManCo will provide fully-fledged and flexible management company solutions for all investment strategiesDuff & Phelps, a provider of governance, risk and transparency solutions, as been authorised by the Central Bank of Ireland as an Alternative Investment Fund Manager (AIFM) and Undertakings Collective Investment in Transferable Securities (UCITS) Management Company (Super ManCo) in Ireland.
The Super ManCo will complement a range of existing services provided by Duff & Phelps and will offer a financially robust, independent and economically viable solution, including an independent risk function, to support ongoing management of regulated funds.
With the full scope of AIFMD
Rhenman & Partners Asset Management saw its global equity hedge fund tumble in July, as losses in energy and financials positions outweighed gains in information technology stocks.
The Rhenman Global Opportunities Fund – a long/short global equity hedge fund strategy which trades across sectors, with a focus on value-oriented companies – shed 3 per cent in its main SEK-denominated share class last month. Its euro share class meanwhile fell 1.64 per cent.
IT names generated positive contributions in July, with Ericsson and Qualcomm the best overall performers.
But monthly returns were ultimately hamstrung by losses in bets on Chevron and
Litigation specialist and consulting firm Pravatio Capital has launched the Pravati Investment Fund V (Fund V) with USD200 million in capital commitments. Read the full story at Private Equity Wire…
From the historic stock market sell-off and volatility surge that wreaked havoc on investment portfolios during March to the continued working-from-home practices which have thrown up various operational obstacles spanning technology, cybersecurity and infrastructure, the coronavirus crisis has upended all corners of the hedge fund industry.
For hedge fund chief operating officers, the pandemic has brought its own unique set of challenges. Managers of all sizes and strategies implemented extensive business contingency plans for home working in order to continue operations. But as firms slowly begin to return to the office following more than four months of lockdown, the concept
Eleven out of 13 hedge fund strategies covered by the EDHEC-Risk Alternative Indexes delivered positive returns in June. The two exceptions were CTA Global and Short Selling. The best performing strategy was Emerging Markets (5.24 per cent), followed by Distressed Securities (4.05 per cent). The worst performing strategy was CTA Global (-0.80 per cent), followed by Short Selling (-0.25 per cent). The positive trend on the stock market benefited the equity-oriented strategies such as Long/Short Equity (1.75 per cent) and Event Driven (2.31 per cent).
Even if the recovery was significant for most of the strategies, it does not compensate yet
Hong Kong-based hedge fund Long Corridor Asset Management has selected Bare Cove Technology Limited (BCT) as its software development and IT automation partner.
