Funds
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.
Sculptor Capital Management has closed a $405m collateralised loan obligation, Sculptor CLO XXXIII, at $405m. The firm is now managing 34 CLOs and CBOs totalling over $13bn across both the US and Europe.
iSwiss Bank has established a new company in New York, which has been authorised by the Securities and Exchange Commission to offer hedge fund investment strategies and tailored financial solutions for institutional and private clients.
Total global hedge fund assets increased for the seventh consecutive quarter in Q2 2024, surpassing the previous record high of $4.3tn to reach $4.31tn with a quarterly increase of approximately $11bn, according to the latest data from HFR.
Brevan Howard’s crypto hedge fund achieved a significant gain of around 20% in the first half of this year, amid increased interest from institutional investors in the burgeoning asset class, according to a report by MarketWatch.
London-based digital assets hedge fund manager Nickel Digital Asset Management has reported record H1 performance for its systematic Diversified Alpha Fund of 18.6% net, according to data from BarclayHedge.
Equity long-short strategies outperformed others with average gains of 2.7% for the second quarter of the year with global macro managers in particular underperforming, according to investment firm Unlimited’s Hedge Fund Barometer.
Digital asset investment products saw further buying on price weakness with inflows of $1.44bn, the fifth highest weekly total on record, according to the latest Digital Assets Fund Flows Weekly Report from CoinShares.
