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Alternative Market Briefing

The Corona Fighters Report 27: Asset managers who delivered in the downturn

Tuesday, May 12, 2020

Bailey McCann, Opalesque New York:

Amid the current market turmoil, this is our regular report on hedge fund and alternative asset managers who are bucking the trend.


Global macro outperforms

Said Haidar's Haidar Jupiter Fund is up 59.67% year to date, according to performance information reviewed by Opalesque. The fund is an opportunistic global macro strategy. The fund's positioning is based on Haidar's global view of economic data, central bank policies and fiscal policies.

The eye-popping performance has come during a time when global macro funds are outperforming broadly. According to April data from HFR, HFRI's Macro index added 1.27%. The HFRI Macro: Multi-Strategy Index gained +3.4%, and the HFRI Macro: Discretionary Thematic Index advanced +3.0%.

Established managers continue to innovate

One of the longest-running quant firms - Millburn Ridgefield Corporation - bet big on innovation and it's paid off. The Millburn Commodity Program is up 15.98% year to date. The program actively trades futures forwards options and swap contracts on approximately 50 physical commodities in various markets such as energy metals grains tropical commodities lumber and livestock. The strategy leans heavily on machine learning-backed data analysis for its trading forecasts.

Millburn is most well known for its Diversified Program which was launched in 1977, making it one of the longest-running managed futures programs in the world. Last year, it was reported that Millburn was pushing further into machine learning and working on new adaptations to its trading programs.

Recent market volatility has been beneficial to some systematic strategies. The Barclay CTA Index is up 1.88% through the end of March. The Systematic Traders Index gained 2.66% in March.

Caution pays off

Sandler Capital Management's hedge fund group was positioned cautiously throughout 2019 and going into the start of this year, that defensiveness has paid off. The Sandler Plus Fund is up 19.40% year to date, according to performance information reviewed by Opalesque. The long/short equities strategy has one of the longest track records in the category.

Sandler was positioned defensively throughout 2019 and moved into healthcare stocks early in the first quarter as concerns around Coronavirus spread. The strategy's short book also drove performance throughout March, according to a recent Reuters report.

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Previous issue of The Corona Fighters Report: Report 26.

Opalesque's Corona Fighters reports are open articles. To see all past articles, type Corona Fighters in our search engine: www.opalesque.com/index.php.

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Disclaimer: This is not investment advice. Opalesque has not verified this information and gives no warranty of accuracy or completeness. Past performance is not indicative of future results. See our Terms & Conditions for more information.

***


WEBINARS:

VIDEO REPLAY of CORONA FIGHTERS - Episode 1 webinar:

Watch the replay here: www.opalesque.com/webinar/#pw4

Meet five Managers and learn how and why their strategies delivered positive returns and/or protected capital during the Corona led market meltdown in one hour!

"A well-chosen topic of discussion and a great set of speakers to hear and learn from."
"I enjoyed the webinar and found the introduction to the strategies to be diverse and insightful.
"Very resourceful and insightful."

700 people registered for the CORONA FIGHTERS - Episode 1 webinar.


Don't miss EPISODE 2

Time: Tuesday, May 19th at 10 am EST
Register: www.opalesque.com/webinar/

You will be able to tune in to this webinar from any computer, tablet, or smartphone. The webinar will be recorded - in case you are not able to join, all registered participants will be provided a link to replay the webinar.

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