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Alternative Market Briefing Weekly

Opalesque Roundup: Trend-following hedge funds are having a moment: hedge fund news, week 33

Sunday, September 04, 2022

In the week ending September 2nd 2022, Eric Uhlfelder published his 19th annual report on the top 50 hedge funds. In his 2022 Survey of the Top 50 Hedge Funds, Uhlfelder said the top 50 funds have been generating about the same annualized net returns since inception as they have over the last five years, emphasizing their consistency. The Scotiabank Canadian Hedge Fund Index reported gains in July 2022 of 0.95% MOM on an asset-weighted basis and up 1.97% MOM on an equal-weighted basis. The comparable benchmark indices were both up for the month, with the S&P TSX 60 Total Return Index and S&P 500 Total Return Index posting increases of 3.91% and 9.22% respectively.

In performance news, trend-following hedge funds are having a moment and are using this year's success to create and push out more strategies and products - CTAs, or commodity trading advisors, have seen a surge in performance this year, thanks to trends like the strengthening of the dollar and a spike in commodity prices.

Said Haidar's $3.3 billion Haidar Jupiter Fund soared an estimated 29.6% in the four weeks through Aug. 26, boosting this year's return to more than 225%; Greenlight Capital posted a huge gain in August, in what was otherwise a lousy month for stocks - the value-driven hedge fund firm headed by David Einhorn surged 5.7 percent last month, at a time when most of the major market indices were down between 4 percent and 5 percent, while the Triodos Energy Transition Europe Fund, which invests in wind, solar and energy-storage projects, is up almost 50% so far this year.

In new launches, Swedish private equity company EQT has set the target size for its EQT Infrastructure VI fund at €20bn ($20bn); Swedish private equ......................

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