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In the week ending May 26th 2023, the Nasdaq eVestment revealed that investors pulled $11.57 billion out of hedge funds in April, marking the sector's biggest month of fund outflows of the year. The exodus was concentrated in equity hedged funds, where $8.94 billion of funds were removed in April, adding to the sector's $19.4 billion of outflows so far in 2023.
Meanwhile, Hedge funds are bullish on their individual stocks, but bearish on the overall market. In the first quarter, they sold banks and technology stocks, while adding to defensive sectors like health care.
In new launches, GTCR, a Chicago, Illinois-based private equity firm, has raised its largest fund ever, GTCR Fund XIV, at its $11.5 billion hard cap beating an initial target of $9.25 billion; Axa Venture Partners (AVP) announced a new €1.5 billion ($1.6 billion) late-stage fund targeting companies that expect to go public within three to four years, and global fintech-focused venture capital firm QED Investors has closed two new funds with combined capital commitments of $925 million.
In the meantime, BlackRock and Fidelity launch more ...................... To view our full article Click here
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