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Despite facing the largest US stock market selloff in over a decade last week, hedge funds largely maintained their positions in technology stocks, according to a report by MarketWatch citing research by the prime brokerage desk at Goldman Sachs.
Hedge funds have made their most significant retreat from bearish yen bets since 2011 as the once-popular carry trade strategy falters, with leveraged investors cutting 56,639 net short positions on Japan’s currency over the two weeks ending 23 July, according to a report by Bloomberg.
Man Group, the world’s largest listed hedge fund firm, has reported strong H1 results, including positive investment performance of $11.1bn – a 2.1% increase relative to peers – and net inflows of $0.9bn, surpassing the industry average by 1.8%.
Mulvaney Capital’s systematic long-term trend-following programme has outperformed so far in 2024, with the strategy recording a huge 134.22% gain despite a decline last month, according to a report by Institutional Investor.
Rhode Island-based casino and gaming operator Bally’s Corporation is to be acquired by its largest shareholder, hedge fund Standard General, in a deal valued at $4.6bn, including debt, according to a report by the Business Journals.
Morgan Stanley has revealed that computer-driven macro hedge fund strategies initiated a significant stock sell-off on Wednesday, shedding $20bn in equities, with the bank’s prime brokerage desk anticipating an additional $25bn in equity sales over the next week, according to a report by Reuters.
Hermes Li’s Aspex Management, one of the largest hedge funds in Asia, has reported a strong performance in the first half of 2024, with a 21% return, significantly boosting its AUM to over $9bn, according to a report by Bloomberg.
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.
Decentralised digital and real world assets trading platform tanX processed $1bn in spot trading volume across three million transactions during the second quarter of the year, marking a 70% increase from the previous quarter.
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.
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