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Opalesque Roundup: Macro hedge funds emerge as the standout winners in January: hedge fund news, week 05

Saturday, February 05, 2022

In the week ending February 4th 2022, a report stated that finally, when the going got tough, macro managers showed up in January - emerging as the standout winners in a month beset by turbulence across both Treasury and equity markets.

In fact, 2021 was a solid year for global macro strategies. According to recent data from HFR, total capital invested in macro strategies rose over $33 billion in 2021 to end the year at $637.1 billion of assets under management. Macro funds also experienced net inflows for 2021, with investors allocating an estimated $3.1 billion of new capital during the year.

Stock-picking hedge funds ended a volatile January with losses after markets went on a roller-coaster ride on geopolitical turmoil and the prospect of rising interest rates. Stock markets' selloff in January dealt double-digit losses to a range of hedge funds investing in technology and other fast-growing companies, sparking questions about whether a popular and lucrative strategy for these firms is running out of steam.

In performance news, Ken Griffin's Citadel has emerged as one of the biggest hedge fund winners from January's financial market turmoil - the firm, which manages $43bn in assets as one of the industry's largest players, gained 4.7 per cent last month in its flagship fund; Steve Cohen's Point72 Asset Management lost money in January, making it an outlier as several multistrategy hedge funds posted gains during a volatile start of the year for stocks - Point72 fell 1.3% last month, while Chase Coleman's Tiger Global, which managed $100 billion across public and private markets at year-end, logged a 14.8% decline for its hedge fund, and Gabe Plotkin's $11.7 billion Melvin Capital slumped 15%, according to people familiar with the matter.

In the meantime, Discovery Capital Management gained 4% in Januar......................

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