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In the week ending January 12th, 2024, HFR reported that hedge fund performance surged through year-end, with December showing acceleration of the powerful leadership trends from the prior month, as gains were driven by a combination of the welcome decline in inflation, resulting in falling bond yields, structural developments in cryptocurrency, improving M&A, and general economic outlook for 2024. The HFRI Fund Weighted Composite Index (FWC) jumped an estimated +2.6 percent, bringing the 2023 calendar year return to +7.5 percent.
Meanwhile, the results of the Q4 2023 Hedge Fund Confidence Index (HFCI) show an average confidence level of +15.6, a decrease of six points from Q3, and just below the average score of +17.7. "In the third quarter, the confidence score was boosted by higher numbers from hedged equity and global macro managers," the index report says.
The fourth quarter of 2023 capped a strange year for traditional assets. Despite lingering economic concerns, increasing corporate defaults and a squeezed consumer, equity markets finished the year strongly.
In performance news, life sciences and biopharma hedge funds posted massive gains in December, capping an astonishing turnaround over the final tw...................... To view our full article Click here
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