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In the week ending November 25th 2022, Citco reported that about half of hedge funds generated positive returns during the third quarter, albeit with a wide divergence by strategy. The best-performing strategy during the third quarter was global macro, with a 4.06% weighted average return, followed by event-driven funds at 3.66% and commodities at 2.99%.

In performance news, Boston-based Disciplined Alpha's long/short equity strategy returned 7.8% in October and 3.8% YTD, annualising 8.6% since inception in July 2013; Chessica LP, a market-neutral hedge fund, returned 5.8% in October and almost 10% YTD - annualising 11.8% since its early 2010 inception; Bill Ackman's hedge fund Pershing Square has notched up compounded net annual returns of over 16 percent since 2004, and Laffont's Coatue Management has grown to more than $70bn in assets since it launched with $50mn in December 1999 - its flagship hedge fund has gained an average of 11 percent a year since then

In new launches, Man Group Plc is close to starting a dedicated cryptocurrency hedge fund, delving deeper into a market that's reeling from the collapse of exchange operator FTX; Brazil hedge fund Galapagos to start US fund in 2023- Sao-Paulo based Galapagos Capital is planning to expand its asset management business to the US next year, according to chief investment officer Sergio Zanini, and Man AHL has launched a risk-managed, multi-asset strategy focused on assets aligned with the transition to a low-carbon economy.

Boston-based private-markets firm HarbourVest Partners has closed its sixth co-investment fund at $4.2 b......................

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