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In the week ending March 17th 2023, Barclay Hedge Fund Index revealed that the hedge fund industry lost ground in February, slipping -1.16% for the month. Despite the loss, the hedge fund industry outperformed the S&P 500 Total Return Index which lost -2.44% in February. For the year to date, hedge funds have returned 2.18% through February while the S&P 500 Total Return Index is up 3.69%.
Hedge funds closed February holding huge short positions in short-term U.S. interest rate and Treasuries futures, positions that may have been crushed by the collapse in implied rates and bond yields following the Silicon Valley Bank crisis.
In new launches, tech veteran Apjit Walia, who had worked with global macro hedge funds including Caxton Associates and Moore Capital, is launching DVN Capital, a global macro and technology hedge fund; General Catalyst, a venture capital firm that led a petition to back Silicon Valley Bank last weekend, aims to raise at least $5 billion for its next flagship fund; Edmond de Rothschild Asset Management is launching its second infrastructure debt fund on behalf of its BRIDGE platform, while a group of investors has set out to raise $100 million for a Bitcoin-focused fund even as implosions and scandals rock the c...................... To view our full article Click here
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