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Nickel Digital’s flagship fund sees record quarterly return

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London-based hedge fund manager Nickel Digital Asset Management’s flagship Diversified Alpha Fund has delivered record quarterly and monthly performance, according to the latest data from BarclayHedge.

Data from BarclayHedge shows the fund achieved a net 11% return in the first quarter of 2024, as compared to 0.6% return of the HFRX RV Global Multi-Strategy Index over the same period.

The record quarterly performance was fuelled partly by a record net 5.3% return in March alone, driven by an exceptional mix of volatility, expanding trading volumes and high dispersion across crypto assets traded by Nickel.

The recent record performance comes on the back of last year’s 20.1% annual return. Since launching in February 2021, the fund has now generated a net return of 41%.

Nickel oversees $180m across several funds. Its Diversified Alpha Fund has historical volatility of 8.5% and is designed to generate non-correlated solid returns in constructive environments while protecting capital in challenging markets, according to a press release. The fund runs fully systematic strategies ranging from statistical arbitrage, relative value and funding arbitrage to momentum and mean reversion.

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