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In the week ending December 11th 2023, the best performing hedge funds are falling victim to their own success as institutional investors such as pension funds and university endowments cut back their most profitable positions to make up for pain elsewhere. Investors yanked $38 billion from top performing hedge funds in the 12 months to end-October, having pulled out $14 billion in the year earlier period, data from hedge fund specialist Aurum Research shows. These hedge funds returned, on average, more than 19% and 18%, respectively, in the two 12-month periods, Aurum Research said.

Meanwhile, trend-following and niche hedge funds that trade crypto currencies and insurance-linked assets attracted most new investor money in the first three quarters of 2023, according to a global report by research firm Preqin on Wednesday. Hedge funds making use of algorithms to catch market trends, or commodity trading advisors saw $13.1 billion of net cash inflows, Preqin said. Niche strategies, which make up 2% of the industry (by assets), saw a net $11 billion in inflows during the same time frame, said Preqin.

In new launches, Citadel veteran Todd Barker conveys a key message when meeting with prospective investors for his new hedge fund firm: We're the anti-pod shop; Bobby Jain is still raising funds for what is expected to be the largest-ever hedge fund launch - Before Jain Global starts trading next summer, it will load up on PMs and investment talent, and Nick Pappas, a veteran credit specialist who has held senior roles at Michael Hintze's CQS and Goldman Sachs Group Inc., is starting his own debt fund focused on European investments.

Meanwhile, Perpetual portfolio manager Thomas Rice and Grok Ventures portfolio manager Armina "Arms" Rosenberg. Meet the surprise new duo looking to take on global equities under their own brand; Sandbrook Capital, a private investment shop focused on energy infrastructure, has amassed $2.1 billion to inv......................

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