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In the week ending June 9th 2023, the HFR revealed that hedge funds posted mixed performance in May as banking volatility evolved throughout the month following the closure and acquisition of First Republic Bank by J.P. Morgan. Financials and Energy declined for the month though Technology and AI surged through May-end and into June. The HFRI 500 Fund Weighted Composite Index declined - 0.2 percent (estimated) in May as managers navigated banking, energy and (primarily positive) technology volatility with performance led by Relative Value Arbitrage and Macro strategies. The HFRI Fund Weighted Composite Index (FWC) posted mixed performance in May, also declining -0.2 percent, as modest gains in Relative Value strategies were offset by declines in Event-Driven strategies. In performance, U.S. hedge fund Citadel's flagship portfolio posted a 6.14% return in the first five months of the year and its other portfolios also gained. Ken Griffin's Citadel saw gains of 0.71% in May.This year, it remains the top-performing multistrategy fund, just ahead of Steve Cohen's Point72; Chase Coleman's Tiger Global rose 6.5% last month, boosting its return for the year to 15.5%; Alex Sacerdote's Whale Rock Capital Management returned 14.4% in its public equity portfolio in May, bringing its year-to-date return to 23%; The Haidar Jupiter Fund, which is well known for its wild, often double-digit monthly swings, has posted its second straight month of generally unremarkable results, and Jericho Capital Asset Management is off to a strong start in 2023, after suffering through the first rough period since its inception - the hedge fund firm's Jericho Capital Partners fund, headed by Josh Resnick, was up 10 percent through the first five months In new launches, LHG Capital Management, a hedge fund dedicated exclusively t...................... To view our full article Click here |
Alternative Market Briefing Weekly
Saturday, June 10, 2023
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