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Alternative Market Briefing Weekly

Opalesque Roundup: Some big name hedge funds shine with substantial gains for the year: hedge fund news, week 32

Saturday, August 08, 2020

In the week ending August 7th 2020, Bill Ackman's Pershing Square Holdings reported that its portfolio made money in July, boosting his monthly performance to 4.6 percent. Pershing Square Holdings is now up 34.8 percent for the year, according to a document released to investors in the UK and Amsterdam-listed publicly traded hedge fund.

Dan Loeb's Third Point Offshore also posted a solid gain in July, cutting its loss for the year in half. The multistrategy fund gained 3.8 percent gain last month; The Haidar Jupiter Fund has restored its status as one of the top-performing hedge funds this year after posting explosive results in July. The volatile macro fund surged 16.30 percent last month and is now up nearly 62 percent for the year; Adam Sender's volatility hedge fund has also climbed 30% this year, and Alex Sacerdote's Whale Rock Capital Management, Chase Coleman's Tiger Global Management and Philippe Laffont's Coatue Management surged in July.

Hedge funds with artificial intelligence capabilities showed a huge competitive edge over investors that didn't use AI, new research indicates. AI-led hedge funds produced cumulative returns of 34 percent in the three years through May, a report Tuesday from consulting and research firm Cerulli shows.

However, Renaissance Technologies, one of the industry's best performing hedge fund firms, is down 13.4% this year in its biggest fund open to the public despite the surging U.S. stock market.

Further in performance news David Einhorn's Greenlight Capital hedge funds rebounded 4.1% in July, helped by a rally in homebuilder Green Brick Partners Inc. Even so, it is still down 17.5 percent for the year; Billionaire-run shops like Glenview Capital and Winton Group, credit-focused funds like Sculptor's Credit Opportunities fund and Angelo Gordon's Mortgage Value strategy are all down double-digits this year.

In new launches, Prime Capital AG, the indepe......................

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