In the week ending 20 November, 2015, several U.S.-based hedge funds reduced their holdings in Apple in Q3 as shares of the iPhone maker dropped sharply; Netflix and Paypal are now the favourite holdings of hedge funds with investments from Soros Fund, Viking Global, Tiger Global and others; Soros Fund also exited its bet on Herbalife.
Hedge funds rebounded in October as performance recovered due to a healthy market return following a period of market volatility in August and September, Lyxor AM said; RWC's Global Innovation Absolute Alpha Fund posted its best-ever monthly gains in October, up 5.71% on strong gains in Ubisoft; the Preqin All-Strategies Hedge Fund Benchmark was up 2.07% in October, 2.45% YTD; Wilshire Funds said that the Wilshire Liquid Alternative Index returned 1.09% in October (-1.37% YTD); Greenwoods Asset and Marco Polo Pure Asset were among hedge funds that posted double-digit gains in October; K2 Advisors said that event-driven hedge funds are the ‘worst disappointment' this year; Doric Capital's flagship $206 million small-cap fund rose 1.7% in October; Quaesta Capital has outperformed its major peers with 21% gains through November 11 by betting on volatility; and Passport Capital, Maverick Capital, Glade Brook Capital and Pagoda Asset beat their struggling peers and the anemic stock market by betting against stocks.
William Ackman's Pershing Square Holdings portfolio has lost 24.5% this year; and Rubicon Fund Management made a profit of about $40 million, representing a rise of about 4.5% in the value of the fund.
Fairtree Capital has outperformed the South African stock market by more than three times after betting mining shares would fall.
Acuitas Investments has launched a new micro-cap long/short equity fund targeting $400 million; and Amundi Alternative has partnered with Hong Kong-based Complus Asset to offer a global macro fund.
Aventicum Alternative has launched its maiden UCITS-compliant fund, the Aventicum UCITS - Absolute Return European Equity Fund.
Two former Salomon Brothers equity traders are to shut down their event-driven hedge fund for a second time; BlackRock is shutting down a macro fund, Global Ascent Fund, because of "headwinds facing the industry"; and Achievement Asset is closing down its hedge fund operation following losses on energy market bets this year.
The Lyxor Hedge Fund Index gained 0.1% as of end November 10 (+0.4% YTD);
The Greenwich Global Hedge Fund Index ended October up +1.51% (-0.4% YTD);
The HFRI China Index was up 5.2% (+5.25% YTD);
The Barclay Hedge Fund Index was up 2.19% (+0.69% YTD);
The Credit Suisse Hedge Fund Index was up 0.53% (-0.06% YTD);
The IndexIQ Hedge Multi-Strategy Index rose1.08% (+0.15% YTD);
The Barclay CTA Index compiled by BarclayHedge dropped 0.78% (+1.52% YTD);
And UCITS HFS Index turned around, up 0.96% (-0.05% YTD).
Palmerston Capital has closed its founder share class as assets under management reached $264 million; AR Capital said it would suspend the acceptance of new subscriptions to certain of its current investment programs effective December 31; and the SS&C GlobeOp Forward Redemption Indicator for November 2015 was up 4.90%.
Regarding investments, Q3 filings showed that William A. Ackman, Larry Robbins, Leon G
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