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In the week ending December 22nd 2024, Aurum reported that hedge fund performance was generally positive in October amidst a backdrop of generally negative performance in global equities and increasing government bond yields. Most hedge fund strategies had positive performance. The average asset weighted hedge fund net return across all strategies was 0.23%. The strongest performing strategy was multi-strategy. Hedge fund performance dispersion was similar to that observed in September.

Meanwhile, hedge funds have already started bailing out of the 'Trump trades' that they previously piled into in the immediate aftermath of the US elections, according to analysis from Morgan Stanley's prime brokerage division. The so-called 'smart money' switched to become net-sellers of global equities in the week ending 15 November in movements driven by a move out of North American stocks on the part of long/short funds and macro traders.

In new launches, Tikehau Capital, the alternative asset manager with nearly €50bn in assets under management, has set up an open-ended private credit strategy for European investors; PE major EQT has set a $14.5 billion hard cap for its latest Asia private equity fund -$2 billion higher than its initial target- which would make it one of the largest Asian PE funds on record, and global multi-asset alternative invest......................

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