Funds
Hedge funds enjoyed stellar performance in November, posting the strongest returns seen since January, with an overall average weighted return of 3.3%, according to new data from $1.8tn global alternative investment asset servicer Citco.
Hedge funds finished November up 1.99% according to the gross return of the SS&C GlobeOp Hedge Fund Performance Index, while hedge fund flows, as measured by the SS&C GlobeOp Capital Movement Index declined 0.47% in December.
Aspect Capital, a London based hedge fund, will soon apply to qualify to set up shop in mainland China to establish onshore fundraising and offer its products, according to a report by The Business Times. The report cites two people familiar with the matter as confirming the story.
TOP STORY: Citadel, the hedge fund run by billionaire Ken Griffin, is planning to give back about $7 billion in profits to investors after a year of double-digit returns, according to a report by Reuters. The report cites sources familiar with the matter as confirming the $7bn returns.Â
Hedge fund performance jumped in November as economic data showed a welcome decline in inflation, resulting in falling bond yields, and surging equity and cryptocurrency markets, as investors positioned for the end of the Federal Reserve interest rate increasing cycle.
Balyasny Asset Management is lagging behind its multi-strategy peers in terms of performance after a tough November saw the firm lose 1.2%, paring year-to-date returns to just 1.5%, according to a report by Business Insider.
Winning bets on the rebound in Japan’s economy, economic trends, and the AI-powered tech stock rally, have helped position Asia hedge funds to post improved performance in 2023, according to a report by Bloomberg.
Digital asset inflows totalled $176m last week, reaching a 10-week cumulative total of $1.76bn, the highest seen since October 2021’s futures-based ETF launch in the US, according to the latest Digital Assets Fund Flows Weekly Report from CoinShares.
Hedge fund Tiger Global Management’s biggest venture capital fund chalked up a paper loss of 18% at the end of September after the firm slashed valuations on multiple portfolio companies, according to a report by Bloomberg.
Samuel Tisch, a grandson of the late billionaire Larry Tisch, has ended a ten-year stint at family friend Izzy Englander’s Millennium Management, to set up his own hedge fund firm, according to a report by Bloomberg.
