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FUND PERFORMANCE
Brummer & Partners’ flagship multi-strategy hedge fund vehicle ended 2021 in negative territory, despite solid annual showings from its trend-following, macro and systematic equity names.
FUND PERFORMANCE
Zhejiang High-Flyer Asset Management, one of China’s top quant hedge fund managers, has apologised to investors following a record slump in performance, according to a report by Bloomberg.
PARTNER FEATURE
Loyola Capital Management was named Best Equity Hedge Fund (up to USD500m) at the Hedgeweek Americas Awards 2021 as a result of its outstanding performance over the past 12 months. Loyola Capital Partners LP was up 298.3 per cent between 30 September 2020 and 30 September 2021, versus a gain of 71.6 per cent for the S&P 500. The portfolio is managed with significant concentration (four to ten holdings) and use of leverage as high as 2x equity.
LEGAL & REGULATION
The Commodity Futures Trading Commission issued an order simultaneously filing and settling charges against JP Morgan Chase Bank, JP Morgan Securities , and JP Morgan Securities plc (collectively, JPMorgan), for failing to maintain, preserve, and produce records that were required to be kept under CFTC recordkeeping requirements, and failing to diligently supervise matters related to its businesses as CFTC registrants.
RESEARCH
Fee discounts and most-favoured nation clauses now feature in almost half of all side letters within the hedge fund industry according to a new study by Seward & Kissel, which also found that the number of smaller, newer managers using such agreements has fallen over the last 12 months.
SURVEY
Most hedge funds are now moving to a permanent hybrid working environment as a result of the Covid-19 pandemic, but concerns over team-building, collaboration and decision-making remain, as more managers look to expand their product offering into new areas and strategies, a wide-ranging new study published by the Alternative Investment Management Association and KPMG has found.
FUND PERFORMANCE
Hedge funds focused on emerging market economies remain in solid form, with India-focused managers powering ahead in the run-up to year-end.
India-focused funds are set be the “big performance winners” in 2021, eVestment said on Wednesday, despite losing more than 2 per cent in November.
Overall, emerging market strategies are up 5.27 per cent since the start of the year, with hedge funds trading India (whose returns stand at 40 per cent YTD) as well as Russia (up 11.52 per cent, despite a near-6 per cent November loss) driving performance.
On the flipside, Brazil-focused managers have tumbled almost 20
RESEARCH
Increasingly frequent spikes in the VIX volatility index could offer hedge funds and other investment managers strong return opportunities amid the resulting equity market gyrations, new analysis published by Man Group suggests.
LONG-SHORT INVESTING
French systematic equity hedge fund Quantology Capital Management has launched a novel computer-based strategy which trades in the metaverse.
FUND PERFORMANCE
Hedge funds have suffered their biggest hit in 18 months after the emergence of the new Omicron coronavirus variant sent markets into a tailspin last month.
