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In the week ending 02 March, 2018, some hedge funds did something right posting gains during the market's recent meltdown: Caxton Associates, Graham Capital and Tudor Investment were up during the turbulent start to 2018 after having reported losses in 2017. Man Group also reported a strong performance with an asset increase of 35% and pretax profit of $272m compared with a loss of $272m in 2016; John Paulson's hedge fund listed holdings fell 8% during its Q4. Other reports said that computer-driven, trend-following hedge funds are heading for their worst month in nearly 17 years. Baupost Group, Elliott Management and D.E. Shaw benefited from Comcast's move for Sky PLC; a number of hedge funds have bounced back from losses last year; Silver Time Partners is thriving from the latest market rout; hedge funds were caught out by a big short in Provident Financial; the return for average equity hedge fund is 2% year-to-date. Greenlight Capital Offshore fell by 6.2% in February extending its 2018 decline to more than 12%; Third Point's Offshore Fund gained 0.7% so far in 2018; and Traders who owned options on ProShares Short VIX Short-Term Futures ETF and ProShares Ultra VIX Short-Term Futures ETF have lost at least $100 million in premiums. Systematic Investment is launching as an independent joint venture between Credit Suisse AM and a spin-off company of ETH Zurich; five former senior Credit Suisse equity derivatives professionals have set up a new UK-based hedge fund, Pluris Capital; BP Capital Advisors and the New York Stock Exchange launched an exchange-traded fund called BOON; and David Schechter has decided not to launch a hedge fund after all. Kindred Capital has raised $110m, making it one of Europe's biggest seeder funds that invest in start-up companies. Magnolia Roa...................... To view our full article Click here |
Alternative Market Briefing Weekly
Saturday, March 03, 2018
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