Funds
APAC-focused hedge funds outperformed their North America- and Europe-focused peers in Q2 with an average net return of 3.5%, versus 0.18% and 1.44% respectively, according to Preqin’s Hedge Funds Q2 2024 report.
Case Hedgefond, a multi-strategy Swedish hedge fund that once managed more than SEK15bn (€1.29bn), is set to merge into Case Fonder’s credit hedge fund, Case Credit Opportunity, after assets dwindled to just €100m.
Digital asset investment products saw a relatively muted inflows last week totalling some $245m, although flows were mixed across different digital assets, according to the latest Digital Assets Fund Flows Weekly Report from CoinShares.
Illinois-based hedge fund Magnetar Capital’s Structured Credit Fund was a standout performer in H2 with a 22% gain as credit-focused hedge funds saw mainly modest gains, according to the Gapstow Alternative Credit Hedge Fund Composite Index which is up 4.6% year to date.
Pershing Square, the hedge fund firm led by billionaire Bill Ackman, is moving forward with the initial public offering of its Pershing Square USA closed-end fund, although the pricing date has yet to be announced, according to a report by the Wall Street Journal.
Mulvaney Capital’s systematic long-term trend-following programme has outperformed so far in 2024, with the strategy recording a huge 134.22% gain despite a decline last month, according to a report by Institutional Investor.
Hermes Li’s Aspex Management, one of the largest hedge funds in Asia, has reported a strong performance in the first half of 2024, with a 21% return, significantly boosting its AUM to over $9bn, according to a report by Bloomberg.
Bill Ackman has announced a significant reduction in the fundraising target for his new US-listed fund, Pershing Square USA, citing investor apprehensions about the fund’s structure and cash deployment strategy, according to reports.
Equity and global macro funds were among the winners as hedge funds maintained their winning streak in Q2, making it seven consecutive quarters of positive returns, while the quarter also saw a return to net inflows for the first time since early 2022, according to data from Citco.
Nick Bird, the head of Hong Kong-based OQ Funds Management and the the former head of Macquarie Group’s quantitative hedge fund, is looking to capitalise on renewed interest in Japan with the launch of a new strategy focused on Asia’s second-largest economy, according to a report by Bloomberg.
