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Opalesque Roundup: Hedge funds advanced in March for sixth consecutive month despite equity market volatility: hedge fund news, week 14

Monday, April 12, 2021

In the week ending April 9th 2021, data released by HFR revealed that hedge funds advanced in March for the sixth consecutive month despite acceleration in realized equity market volatility, completing a strong 1Q 2021. Recent strong performance has been driven by exposure to out-of-favor, deep value equities, as well as by optimism over the impacts of a broader economic reopening, increased cryptocurrency exposure and increased stimulus spending. The HFRI Fund Weighted Composite Index (FWC) gained +1.0 percent in March, while the investable HFRI 500 Fund Weighted Composite Index advanced +0.65 percent.

However, March was not pleasant for all hedge funds. Big-name managers like Lone Pine, Holocene, Candlestick, Suvretta, and more lost money as industry-wide alpha - or returns beyond the overall market - is on pace for its worst year since 2015, according to client data from Morgan Stanley's prime brokerage unit.

Further in performance news, Haidar Jupiter Fund, the macro hedge fund founded by Said Haidar was up 32.67 percent in the first quarter after posting a 12.67 percent gain in March, according to the firm's monthly communication with clients seen by Institutional Investor; Chris Hohn's TCI Fund Management posted a 4.1 percent gain in the first quarter, according to an investor; Aristides Capital's flagship fund wa......................

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