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Alternative Market Briefing

Opalesque Roundup: New market dynamics foster hedge fund renaissance with more funds launching: hedge fund news, week 01

Monday, January 04, 2021

In the week ending January 01st 2021, the HFR Market Microstructure Report revealed that new hedge fund launches increased to the highest level in five quarters in 3Q 2020 on optimism in the US economy, as managers and investors positioned for acceleration of performance gains and capital growth into 2021. New hedge fund launches increased to an estimated 151 in 3Q20, the highest quarterly launch total since 2Q19. Fund liquidations fell to an estimated 137 in 3Q20, the lowest liquidation total since 2Q18 and marked a decline of over 50 percent from the 304 liquidations in 1Q20.

Meanwhile, a press note by Eurekahedge said that hedge fund managers the ended month of November up 4.49% on an equal-weighted basis, and 3.51% return on an asset-weighted basis. The better-than-expected efficacy of the COVID-19 vaccines and optimism on the new US administration boosted the performance of the global equity market during the month. On a year-to-date basis, global hedge funds were up 8.17% over the first 11 months of 2020.

In new launches, YouTube cofounder Steve Chen is partnering with veteran money manager Jack Fu to launch a hedge fund that picks stocks and fixed-income assets through the use of artificial inte......................

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