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In the week ending June 14th 2023, HFR revealed that hedge funds surged in June as Technology, AI and Growth led gains complemented by Shareholder Activist and Multi-Strategy sub-strategies as banking volatility subsided. The HFRI 500 Fund Weighted Composite Index surged +2.35 percent (estimated) in June, the strongest monthly gain since February 2021, as managers positioned for growth in Technology, Relative Value Arbitrage and Quantitative exposures, according to data released today by HFR. The HFRI Fund Weighted Composite Index (FWC) also surged in June, gaining +2.2 percent, similarly driven by Equity Hedge and Event Driven strategies. In performance news, according to Gapstow, a strategic consulting firm based in New York City, credit markets continued their strong YTD performance in Q2 2023, with lower-rated, less rate-sensitive credit generally outperforming; Tiger-related funds continue to roar - most of the firms posted strong gains in the second quarter, in many cases doubling their performance from the previous quarter, while Andrew Law's Caxton Macro hedge fund deepened its decline in June to end the first half down 20%, while Jeff Talpins's Element Capital Management suffered a 7.7% loss last month to extend its slump this year to 15.4%, people with knowledge of the matter. Meanwhile, Said Haidar, the hedge fund manager known for his stunning gains and losses, is making money once again - the Haidar Jupiter fund soared an estimated 27.3% in June, helping repair some of the damage from months of losses; Dan Loeb's Third Point Offshore fund posted a modest 1.2 percent gain in June, according to its latest monthly report; The fund by Alpharetta, Georgia-based Adaptive ETFs, ha...................... To view our full article Click here |
Alternative Market Briefing Weekly
Saturday, July 15, 2023
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