Aspect Capital, a London-based quant hedge fund with $7.5bn in AUM, has racked up a 21% return so far in 2024 in its flagship fund on the back of winning bets on currency markets and commodities, according to a report by Bloomberg.
The report cites Director of Investment Solutions Razvan Remsing in confirming the fund’s performance, which is ahead of the average 14% return for trend-following funds and 3% for discretionary macro managers over the same period, based on Société Générale’s indexes.
“The majority of our returns are from the dispersion in currencies and commodities,” Remising said.
The firm’s market-following trading models have profited from positioning for a stronger dollar, as markets veer toward Federal Reserve rates staying higher for longer, as well as shorting the Japanese yen and the Swiss franc — two of the year’s worst-performing major currencies against the dollar.
In commodities, Aspect has steadily trimmed a long position in cocoa after it hit record highs, while upping its exposure to gold and oil, which have both seen gains amid ongoing tensions in the Middle East.
