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In the week ending May 3rd 2024, the data provider Preqin stated that new multi-strategy hedge fund launches accounted for less than one in 10 of new funds in the first quarter, down from about one in four in the last quarter of 2023, a sign that investors witnessing higher market volatility might be seeking less risky prospects. Launches for this kind of hedge fund, housing different kinds of trading strategies, have fallen to their lowest in around a year since Preqin started collecting this data.

Meanwhile, trend-following hedge funds are off to a strong start in 2024. They have more than doubled the gains of the S&P 500 this year, before fees are factored in, according to data from Societe Generale. Trend-following funds continued a run of strong performance in April, even as a selloff in stocks disrupted one of their biggest moneymaking trades.

In new launches, Golub Capital has closed its sixth credit opportunities fund on $2 billion - Fund 6 is the largest Golub Capital Credit Opportunities fund to-date, the fund was over subscribed and hit its hard-cap; BTG Pactual Asset Management, an opportunistic investment strategy focused on asset-oriented businesses of Latin American banking major BTG Pactual, has raised more than US$1bn for its opportunistic asset-focused fund strategy, and AlTi Global (NASDAQ: ALTI), an independent global wealth manager with over $70 billion in combined assets, announced a new partnership with leading technology investor Hiro Tamura, formerly Managing Partner at Atomico, to collaborate on a new flagship growth equity strategy investing in private growth-stage sector-defining technology companies.

In the meantime, Diameter Capital Partners is handing back some money to clients to stay flexible a......................

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