Funds
Hedge funds have weighed in on bets on the “Magnificent Seven” tech stocks that have boosted portfolio returns this year, sending “crowding” to the highest level on record, according to a report by Reuters
Lacklustre returns and a 90% fall in assets in the last four years has prompted Blackstone to close down the Blackstone Diversified Multi-Strategy fund which provided investors with exposure to a range of hedge funds and other trading strategies, according to a report by The Financial Times.
Jim Chanos, founder of long-short hedge fund firm Chanos & Co (formerly Kynikos Associates), and famed for bearish bets against Enron and Tesla Inc, is shuttering his hedge funds after almost four decades of trading, according to a report by the Wall Street Journal.
A global macro trading team lead by Adrian Owens is joining global alternative investment manager Investcorp-Tages from GAM, with the team continuing to manage its existing GAM Star Global Rates UCITS fund, which will remain on the GAM UCITS platform .
Global alternative investment manager, Cheyne Capital, is looking to raise £7.5bn for the next iterations of its Cheyne Real Estate Credit Holdings (CRECH) programme to help fulfil UK and European borrower demand.
Macro strategies led hedge fund industry gains in October with the HFRI Macro (Asset Weighted) Index advancing +0.7% to record its third consecutive month of positive performance, bringing the trailing three-month return to an impressive gain of +4.2%.
Unlimited, an investment firm co-founded by former Bridgewater Associates executive Bob Elliott, is planning to launch a new tech-driven multi-manager-style hedge fund replication strategy, according to a report by MarketWatch.
Many of the global hedge fund industry’s large multi-strategy firms rose to the trading challenges presented by a difficult October and ended the month in positive performance territory, according to a report by Reuters.
Eisler Capital the London-based multi-strategy hedge fund firm founded by Edward Eisler, posted its best monthly return of the year in September with a 1.29% gain taking the fund’s YTD performance to 5.4%, according to a report by Reuters.
Hedge funds lost money in September, according to SS&C Technologies, with the gross return of the S&C GlobeOp Hedge Fund Performance Index measuring -0.24% for the month. Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index declined 0.98% in October.
