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In the week ending January 19th, 2024, Goldman Sachs revealed that hedge funds were able to gain 1.7% on a global basis in December. Meanwhile, the S&P 500 (SP500) (SPY) climbed 4.5% during that period. The Nasdaq jumped 5.3% for the month. In general, hedge funds ended 2023 by underperforming the broader market averages in December, continuing a trend that marked the year as a whole.
In the face of significant volatility and a sharp surge in interest rates over the past year, the banking sector has turned into a lucrative playground for hedge funds specializing in corporate credit.
Meanwhile, SS&C Technologies Holdings announced the gross return of the SS&C GlobeOp Hedge Fund Performance Index December 2023 measured 2.14%. Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index declined 2.37% in January.
In performance news, the heavily concentrated hedge fund Sosin Partners, known for its outsize performance movements was up about 80 percent in 2023 - this was after posting gains in December that were more than double the 38 percent the fund had been up for the year until then; Caxton Associates, one of the oldest and best-known global macro hedge fund managers, lost money in its two main funds in 2023 - the London-based firm, headed by Andrew Law, lost 9.2 per cent in its Caxton Macro fund, while its flagship Caxton Global Investments fund lost about 1 per cent; Fermat Capital Management just had the best year in its more than two-deca...................... To view our full article Click here
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