Alternative Market Briefing

Opalesque Roundup: Hedge funds rotate exposure amid earnings-led factor reversals and a pick-up in Asia

Monday, November 10, 2025

Hedge Fund Performance & Flows

Dymon Asia up ca. 15% YTD after Q3 rebound Singapore-based Dymon Asia reported a 14.8% YTD return through October, helped by steady gains in September and October after a softer first half. Macro and relative-value trades were key drivers as dispersion stayed elevated. Opalesque AMB

Millennium stake sale values platform near USD 14bn Millennium sold a 15% equity stake to select large LPs - its first ownership sale in nearly four decades - in a deal that underscores continued allocator demand for scaled multi-manager platforms. Opalesque AMB

Hedge funds lean into Asia and factor dispersion Across October/early November, managers rotated exposure amid earnings-led factor reversals and a pick-up in Asia opportunities, with Japan activism and macro trades featuring prominently this week's headlines. See highlights throughout this AMW, including Japan activism and flows.

Regulatory & Market Structure

EU's next ESG wave to capture hedge funds New EU sustainability rules are set to impose broader disclosu......................

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