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Alternative Market Briefing Weekly

Opalesque Roundup: Hedge funds gain during turbulent January: hedge fund news, week 07

Saturday, February 13, 2021

In the week ending February 12th 2021, HFR reported that hedge funds advanced in January to begin 2021, actively trading through a turbulent month dominated by a volatile surge in trading from retail investors concentrated in a handful of deep value equities with significant short interest. The HFRI Fund Weighted Composite Index (FWC) gained +0.9 percent in January, while the investable HFRI 500 Fund Weighted Composite Index advanced +0.35 percent, according to HFR.

The Eurekahedge Hedge Fund Index was also up 0.37% in January 2021, outperforming the global equity market as represented by MSCI ACWI (Local) which gained 0.11% over the same period. Global equities went on a roller coaster ride this month as their gains in the earlier period were erased due to the turbulence of retail investment in the last part of the month.

Hedge funds performed well in 12 months of soaring volatility as returns across the asset class were +16.63% for the year, with the best-performing strategy- equities - delivering +19.64%. "Taken as a whole, equity strategies delivered a net return of +19.64% last year. This respectable result disguised 12 months of turbulence," said a report from Preqin.

Meanwhile, in 2020, CTAs returned +1.11% in the first quarter and finishing the year up 7.21%.

In new launches, Jeffrey Ubben, a hedge fund veteran in talks to join Exxon Mobil Corp's board, is seeking to raise as much as $8 billion for his new socially and environmentally conscious fund, accordi......................

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