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Alternative Market Briefing Weekly

Opalesque Roundup: Global hedge funds down 1.47% in Q1 2022: hedge fund news, week 14

Saturday, April 23, 2022

In the week ending April 23rd 2022, Preqin reported that Q1 2022 ended up being one of the most challenging quarters for hedge funds with the strong 2021 momentum coming to an end. The asset class declined 1.47% during the quarter, making this year's decline the worst post-Global Financial Crisis (GFC) and the third-lowest first-quarter return ever recorded by Preqin. The study shows hedge funds were affected by geopolitical factors and turmoil in the markets, posting lower returns during the quarter compared to its strong 2021 performance.

Meanwhile, Life sciences hedge funds picked up in the first quarter where they left off last year. Most were down by double-digits in the first quarter. And that's not a good thing. Many of them not only lost money for the three-month period, they suffered another round of double-digit losses following last year's disastrous declines.

However, the gap between the best and worst hedge fund strategies just widened: Hedge fund investors might be having wildly different performance experiences. Take managed futures funds, for example, which have turned in monthly performance numbers that haven't been this good since 2003. In fact, if 2022 were to end in March, the category's 9.7 percent return would be its best calendar year since 2014.

In new launches, King Street Capital is raising money for two new funds - the credit-driven multistrategy firm is seeking capital for its latest strategies; Melvin Capital, the embattled hedge fund run by its once high-flying founder Gabe Plotkin, has been discussing a novel plan with its investors under which the firm would return their capital, while giving them the right to reinvest that capital in what would essentially be a new fund run by Plotkin, and the London-based Tiger Cub is launching a new fund heavily weighted with European bank stocks.

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