Funds
Discovery Capital Management, the hedge fund firm led by ‘Tiger cub’ Rob Citrone, recorded a 48% return with its macro hedge fund in 2023, making it one of the top performers among funds betting on economic trends, according to a report by Bloomberg.
The SS&C GlobeOp Forward Redemption Indicator, which represents redemption notices received from investors in hedge funds administered by SS&C GlobeOp, measured 3.64% for December 2023, up from 3.49% in November.
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.
