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In the week ending February 10th 2023, a report by HFR revealed that hedge funds surged to begin 2023 as risk-on sentiment dominated financial markets and investors positioned for a moderation of inflationary pressures and interest rate increases through mid-2023, despite continued uncertainty over weakening economic growth. The investable HFRI 500 Fund Weighted Composite Index jumped +2.5 percent in January, led by directional Equity Hedge and Event Driven strategies.

Meanwhile, hedge funds saw performance turn negative overall in 2022 as shifts in the macroeconomic backdrop impacted investment markets. A war in Europe and the subsequent return of inflation sparked a trend of rapidly rising interest rates around the world, altering the risk/return profiles of major asset classes. Amid this shift, hedge funds administered by the Citco group of companies (Citco) saw a weighted average return of -7.02% for 2022.

In performance news, Bill Ackman's Pershing Square Holdings has gained 7.2 percent for the year as of February 7. All of the stocks in its closely held portfolio were up at that time; The quant-driven firm AQR's Absolute Return strategy - AQR's broadest and longest-running multistrategy offering, launched in 1998 - gained a net 2.2 percent in January, and The master fund behind the London-listed closed-ended fund Third Poi......................

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