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Alternative Market Briefing Weekly

Opalesque Roundup: Billion-dollar club hedge funds outperform smaller funds fourth consecutive month: hedge fund news, week 18

Saturday, May 21, 2022

In the week ending May 20th 2022, HFM announced that its Global Composite Index was down -0.4% in April and -0.6% year-to-date, while the HFM FoHF Composite Index declined -2.6% year-to-date. Billion-dollar club funds outperformed smaller funds for a fourth consecutive month, extending their lead over smaller funds in 2022 to 2.8%. L/S equity and event-driven funds were the biggest drags on the month, down 2.8% and 3.0%, respectively. Conversely, managed futures and macro funds were up 3.2% and 1.3%, respectively, the only top-level strategies that posted positive returns in April.

Meanwhile, most hedge funds reported positive returns for March, but April brought a reversal for funds administered by Citco. The firm reports that the overall weighted average return for April was -2.9%, compared to the March return of 1.5%. Due to inflated commodity prices, commodities funds were the strongest performers, with a weighted average return of 4.4%. Event-driven funds came in second with a return of 1.6%, followed by global macro funds at 0.6%. All other hedge fund strategies were negative, with equities in last place at -4%.

In new launches, hedge fund veteran Michael Green launched the Simplify Macro Strategy exchange-traded funds (ETF) offering it to investors as a total portfolio solution through exposure to a diversified set of risk drivers; Venture capital giant Andreessen Horowitz (a16z) has launched its inaugural gaming fund with plans to invest $600 million across game studios, gaming-related consumer apps, and infrastructure, and Clearlake Capital Group, an investment firm that focuses on technolog......................

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