Funds
Hedge funds posted declines in October amid mixed strategy performance as investors positioned for the US Presidential election amid ongoing conflicts in the Middle East and Ukraine and corporate earnings ranged widely from strong to weak, according to the latest data from HFRI.
The Haidar Jupiter Fund, the macro hedge fund led by Said Haidar, reported a 10.81% loss in October, bringing its year-to-date decline to 29.39%, according to a report by Institutional Investor citing a recent client email.
In a year marked by steady gains, October proved exceptional for Schonfeld Strategic Advisors as the $11.6bn New York-based hedge fund continued its strong growth trajectory since opting out of a potential acquisition by rival Millennium a year ago, according to a report by Business Insider.
Greenlight Capital began the fourth quarter with a positive start, posting a 1.9% gain in October, while the S&P 500 by comparison fell by 0.9%, and the Nasdaq Composite gained 1%, according to a report by Institutional Investor.
Hong Kong-based hedge fund Zeal Asset Management, which focuses mainly on Chinese equities, is to cease operations next year, and return over $1.6bn in capital to investors as its founders prepare for retirement, according to a report by Reuters.
MPP&E Capital, a newly established quantitative hedge fund based in London, is set to launch later this year with single managed account (SMA) allocations, followed by an institutional commingled fund launch in Q1 2025, according to a report by Alternatives Watch.
Neil Campling and Toby Clothier, the analysts known for identifying potential fraud at German payments firm Wirecard years before its collapse, have shut down their hedge fund, Chameleon Global Master Fund, due to its limited scale, according to a report by City AM.
Terrence Matthews, previously the head of European credit at hedge fund Centiva Capital, is setting up his own venture, Athlone Investment Management, in the latest in a series of spin-offs from a multi-strategy “pod shops” that operate with teams of individual traders, according to a report by Bloomberg.
Hedge funds recorded their eighth successive quarter of positive returns in Q3 2024, with funds achieving an overall weighted average return of 3.22%, a 1.09% increase on Q2, according to a new report from Citco.
Shanghai-based Power Asset Management has closed its options arbitrage strategy following significant losses amid recent market volatility, making it the latest Chinese hedge fund to be impacted by unpredictable stock movements linked to government stimulus efforts, according to a report by Reuters.
