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In the week ending May 17th 2024, Goldman Sachs Group Inc.'s prime brokerage desk revealed that hedge funds ramped up their selling of financial stocks as US economic growth shows signs of weakness and the sector approaches a key technical level. Despite financials notching their best weekly gain of 2024, hedge fund managers net sold for the third straight week - the largest bout of net selling in two months - data compiled by Goldman Sachs Group Inc.'s prime brokerage desk for the week ended May 10 show.

Life sciences hedge funds snapped their winning streak last month. Most lost money, including several that fell by high-single-digit or low-double-digit rates after posting sharp gains for five straight months. This compares with a roughly 7.5 percent loss for the iShares Biotechnology ETF. Many of the stocks in the portfolios of the exchange-traded fund and the hedge funds are of fledgling companies with little or no revenues.

Meanwhile, hedge funds are looking to increase fundraising activity and diversification over the next year. More than half (55%) of hedge funds said that they expect to increase fundraising going into 2025. This is according to research from Dynamo Software, Dakota and ProFundCom. Last year only 30% of respondents last year stated that same view on fundraising.

In new launches, digital asset manager Hyperion Decimus (HD) has announced the launch of the HD CoinDesk Acheilus Fund, a data-driven way to invest in digital assets leveraging institutional-grade fiduciary management; EnCap Investments, a provider of growth capital to the independent sector of the U.S. energy industry, has raised $1.5bn (€1.4bn) for its second US energy transition fund, and Frontier Commodities, an innovative, ......................

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