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In the week ending February 1st 2023, Preqin reported that global hedge fund returns fell by 6.5% in 2022, marking the biggest decline since 2008, when returns plummeted 13%. For comparison, the MSCI World Index, a broad global equity index that tracks the performance of large and mid-cap equities across 23 developed countries, fell by 18.7%. In contrast, the ICE BofA U.S. Treasury index lost almost 12%. The S&P 500 closed the year nearly 20% lower.

Funds administered by the Citco group of companies recorded a weighted-average return of 4.11% for the fourth quarter. The median return of 2.44% indicates that larger hedge funds broadly outperformed smaller ones by sizable percentages.

The PivotalPath Composite Index rose 0.4% in December, capping 2022 at -0.8%. However, the composite's cumulative spread above the S&P 500 jumped significantly in December, ending 2022 at 18.6% for the largest outperformance since 2008.

Meanwhile, for most Asian hedge funds, 2022 proved to be a year of pain as a gauge of regional fund returns finished the year down 8.3%. Asia hedge funds narrowly averted their first year of double-digit losses since the 2008 financial crisis after China's sudden easing of Covid restrictions spurred a late market rally.

In performance news, Dan Gropper's multi-strategy credit hedge fund returned 7.13% net of fees last year; The RPM Evolving CTA Fund, a multi-CTA fund with a core trend following strategy, returned 23% in 2022 - this was also its best year since its 2013 inception; Glenview Capital Management, the long-short firm headed by Larry Robbins posted an 11.7 percent gain in its flagship Glenview Capital Partners fund last month; Greenlight Capital, the value-driven hedge fund headed by David Einhorn lost 1.6 percent in January, a month in which the Nasdaq Composite jumped 10.7 percent and the S&P 500 gained 6.6 percen......................

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