Funds
Digital asset investment products saw the largest single weekly inflows since July 2022 last week, totalling $199 million, correcting almost half of the previous nine consecutive weeks of outflows, according to the latest Digital Assets Fund Flows Weekly Report from CoinShares.
Bitcoin was the primary beneficiary, seeing $187 million in inflows last week, representing 94% of the total flows, while short-bitcoin saw outflows for the ninth consecutive week totalling $4.9 million.
This positive turn in sentiment didn’t trickle down to altcoins though, with only very minor inflows seen.
Japanese and emerging markets hedge funds extended gains to begin 2023, driven by optimism toward peaking US and global inflation, and the near end of the US-led interest rate increasing cycle, according to the latest HFR Asian Hedge Fund Industry and HFR Emerging Markets Hedge Fund Industry reports.
Toscafund, a London-headquartered specialist asset manager, has launched the Tosca Market Thinking Fund, which the company describes as “an innovative, unconstrained global equity fund” developed by Mark Tinker, CIO Toscafund Hong Kong.
Structured as a combination of a global factor fund (40%) and a global thematic fund (60%), rather than the traditional country and sector approach, the strategy removes stock specific risk by utilising large and liquid ETFs to create a conviction based portfolio, according to Toscafund.
The portfolio includes the five main investment style factors: size, value, quality, momentum and volatility, with the thematic side of the portfolio constructed
Macro hedge funds have enjoyed a renaissance in recent years with the biggest funds – those with over $1 billion in assets under management – showing significant outperformance compared to their smaller sub-$1 billion counterparts, according to a new report from WithIntelligence.
A new study of new hedge funds launched by established managers from private funds industry law firm Seward & Kissel, reveals a sharp divergence in the management fees charged depending on investment strategy.
Hedge funds delivered another month of positive performance in May, although performance dipped month-on-month, with a total weighted average return of 0.4%, according to the latest data from hedge fund administrator Citco.
Net inflows into funds based in the Americas and Europe continued in May, while funds situated in Asia once again saw outflows. Overall, net inflows in May reached $1.9bn, almost four times’ April’s total of $0.5bn, as subscriptions of $7.1bn came in well ahead of redemptions totalling $5.2bn.
A total of 48% of the funds administrated by Citco had positive returns in May, dipping from 65% in
Protium Capital, a hedge fund firm founded by former Hillhouse Capital Management fund manager Lu Ning, has raised between $100 million and $150 million for a new long-short equity fund, making it one of the largest China-focused hedge fund launches so far this year, according to a report by Reuters.
The fund, which is due to begin trading in July, has attracted seed money from Hillhouse founder and billionaire investor Zhang Lei, as well as commitments from business owners, financial institutions and family offices from China and Asia. It is expected to focus on investments in the tech, industrial and
Tiger Global Management LLC is struggling to attract commitments for its latest venture capital investment vehicle, with the hedge fund having so far secured about a third of its $6 billion target, according to a report by Bloomberg.
Blockstone Capital, a London-based, FCA-authorised alternative investment fund manager, has launched a new digital asset fund of hedge funds, which is available to institutional and other professional investors, and “carefully curates its portfolio to include only the top-tier funds and managers”.
MEV Capital Management is launching a new digital assets hedge fund, MEV Capital Stablecoin High-Yield Fund SP, a Cayman Islands vehicle that “deploys and monitors trend-agnostic strategies based on digital assets, seeking to capture yields and timed opportunities”.
The fund, which encompasses on-chain operations to the public ethereum blockchain, interacts with decentralised finance (DeFi) protocols as well as with digital asset derivative and hedging solution providers to achieve market neutrality. The fund has an open-ended structure and is registered with the Cayman Islands Monetary Authority (CIMA), and audited by a CIMA approved auditor.
Subscriptions for the USDC-denominated fund opened this
