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In the week ending February 2nd 2024, Citco revealed that hedge funds achieved double-digit returns in 2023. Citco oversees $1.8 trillion dollars of assets under administration. Funds administered by Citco achieved a weighted average return of 14.66% for 2023 - a stark contrast to the previous year's figure of -7.02% - as a number of strategy types rebounded from a tougher 2022. In total, 80% of funds achieved positive returns for the year.

Citco also said that hedge funds continued their impressive run of performance in December, with an overall weighted average return of 2. All strategies saw positive performance. Event Driven funds achieved the highest weighted average return of 3.5%, followed by Equities at 3.3% and Fixed Income Arbitrage at 2.4%.

Global hedge fund returns surged 7.1% in the fourth quarter of 2023, after edging down 0.1% in third quarter, pushing calendar year returns to 13.3%, said a report released Jan. 31 by Preqin.

In the meantime, investors withdrew over $100 billion from hedge funds last year in a second consecutive year of outflows of this scale, according to a Nasdaq eVestment report on Tuesday, against a backdrop of volatile markets and changing investor preferences.

In new launches, Adam Davis, former head of commodities at Merricks Capital is launching his own hedge fund Farrer Capital - he is targeting $500 million for the strategy which is focused on agricultural commodities; Pascal Guttieres, a former UBS Group AG banker is launching a new hedge fund in Hong Kong, betting on a revival of stock sales in Asia that have plunged to a decade low, and billionaire Michae......................

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