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FUND PERFORMANCE
Hedge funds have notched up positive returns in recent weeks, positioning around the investment uncertainty surrounding the US presidential election and fresh Covid-19 lockdowns with gains inversely correlated to the sharp stock market declines seen at the end of October.
New data from Hedge Fund Research shows the industry as a whole was up 0.4 per cent last month, which took the HFRI Fund Weighted Composite Index’s year-to-date performance to 1.2 per cent.
As governments reimposed lockdowns in a bid to contain a renewed increase in coronavirus cases in many countries, HFR president Kenneth Heinz described October’s performance as “impressive”.
FUND PERFORMANCE
Merger arbitrage and event driven hedge fund strategies can capitalise on the recent pick-up in M&A activity globally, and help cushion investors’ portfolios amid potential risk aversion as a result of the US election, Brexit and a fresh Covid-19 surge in Q4, industry strategists say.
WEBINAR
This webinar explores the extent to which the impact of Covid-19 on global equities has influenced how portfolio managers construct trade positions. And whether accessing non-traditional data sets has helped them in this endeavour; both with respect to idea generation, and risk management. REPLAY NOW
FUND PERFORMANCE
The biggest hedge fund managers are still lagging behind the wider industry’s performance on average in 2020, with larger strategies having fallen into the red over the past nine months while the industry overall is in positive territory, as hedge fund strategies of all stripes gave up some of their summer gains in September, according to new industry data.
The ten largest hedge funds reporting performance to eVestment lost 1.06 per cent in September, generally in line with the wider hedge fund industry, which fell just over 1 per cent.
But in the nine-month period since the start of January,
INTERVIEW
Portfolio managers face conflict every day as their ideas and levels of conviction are constantly tested. But as we all continue to adapt to remote working, finding a level of detachment from the office environment seems to be helping PMs re-affirm their edge and listen with greater clarity to their intuition. Could the home office now become a semi-permanent arrangement in pursuit of improved portfolio performance?
FUND PERFORMANCE
A pick-up in M&A activity within certain healthcare stocks is helping Stockholm-based global healthcare-focused hedge fund Rhenman & Partners Asset Management generate further gains in its flagship equity strategy.
RESULTS
Blackstone – the world’s largest alternative investment manager – has seen its group-wide assets increase by 8 per cent, though its hedge fund capital fell slightly last year, despite positive performance amid “significantly less volatility than the broader markets”.
The group, which runs a range of hedge fund, private equity, credit, real estate, and alternative products, saw its total assets under management swell to USD618.6 billion in 2020 – an 8 per cent year-on-year increase from 2019’s total of USD571.1 billion, with Q4 2020 inflows numbering USD32.3 billion.
The group had deployed some USD293.6 billion of investable capital at quarter-end,
NEWS
The Trium ESG Emissions Impact Fund has been included in Square Mile’s Academy of Funds, having been awarded an ‘A’ rating by the investment consultant. The Academy is a showcase of recommended funds for advisers and clients.
FUND PERFORMANCE
Hedge funds have suffered their first monthly loss since March, as fears over the growing spread of coronavirus in Europe and the US – combined with the imminent presidential election and uncertainty over the US economy – weighed down on managers of all hues in a decidedly patchy September.
New data published by Hedge Fund Research shows that only event driven strategies emerged from September in positive territory, as losses swept through the equity, macro and relative value sub-sectors.
The flagship HFRI Fund Weighted Composite Index – an across-the-board snapshot of all strategies – dumped 1.2 per cent last month, its first
US ELECTION
Biden win with split Congress is “best outcome” for riskier assets, says Pictet chief strategist
US ELECTION
Biden win with split Congress is “best outcome” for riskier assets, says Pictet chief strategist