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Business disruption, cybersecurity challenges and greater compliance burdens have long been acknowledged as being among the foremost operational challenges facing the hedge fund, private equity and investment management industries.
RESEARCH
Although lauded for their ability to outperform broader market indices, hedge funds’ “Best Ideas” do not excel relative to the rest of their portfolios, according to a study produced by Epsilon Asset Management, a quantitative investment firm, in collaboration with New York University.
FUND PERFORMANCE
Stockholm-based multi-strategy hedge fund firm Brummer & Partners’ flagship vehicle gathered further pace towards the end of the year, as strong performances in its stock-picking and trend-following funds during December powered the long-running manager into double-digit territory for the year.
RESEARCH
New hedge fund launches increased to the highest level in five quarters in Q3 2020 on optimism in the US economy, as managers and investors positioned for acceleration of performance gains and capital growth into 2021, according to the latest HFR Market Microstructure Report, released today by HFR.
New hedge fund launches increased to an estimated 151 in Q3 2020, the highest quarterly launch total since 2Q19 and exceeded the estimated quarterly liquidations for the first time since 2Q18. Launches in the most recent quarter exceeded the 2Q estimate of 129 new funds, bringing the YTD 2020 launches to 364
NEWS
Rhenman & Partners Asset Management says it is closing its Rhenman Global Opportunities L/S strategy and intends to return capital back to investors.
The fund – a global equity-based strategy which trades long and short across all industries and sectors, with a focus on value-oriented companies – has struggled with performance throughout 2020.
The strategy, which has an annual return target of 7-8 per cent – is down more than 23 per cent over the 10-month period since the start of this year.
In a statement, the Stockholm-based firm – known for its healthcare-focused investments – thanked all those investors who
MANAGER INSIGHTS
With bitcoin hitting the headlines in recent weeks, reaching an all-time high of USD19,915 on 1 December, investors have been keen to pile in. Even the likes of Bridgewater’s Ray Dalio and Paul Tudor Jones are coming around to the fact that there could be something happening with bitcoin, having made a Lazarus-like recovery since its price tanked close to USD3,000 in December 2018.
RESEARCH
The amount of short bets against UK stocks during the first five months of 2020 has surged 25 per cent compared to the same period last year, with the increase triggered by huge surges in market volatility, according to industry analysis by GraniteShares.
RWC Partners has launched the TM RWC Global Equity Income Fund, within a UK OEIC structure, and will shortly launch the RWC Global Equity Income Fund for SICAV investors, with both to be managed by Nick Clay and his team.
Gary Tuffield, Head of European Distribution at RWC, says: “Nick, Andrew, Colin and Robert have created a market leading proposition, which has been endorsed by their clients over many years, and one that we believe is highly relevant for investors today.
The coronavirus has been very damaging to the corporate sector, with many companies cutting or withholding dividend payments
MANAGER INSIGHTS
November looks like it could be a superb month for equity-focused hedge funds on the back of Biden’s presidential victory and the three Covid vaccine announcements. And with hedge funds up over 5 per cent YTD, November’s turbo boost could see 2020 ending on a high note.
OUTLOOK
Top hedge fund industry trends for 2021
OUTLOOK
Top hedge fund industry trends for 2021