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In the week ending June 21st 2024, various reports suggested that hedge fund performance was positive in May 2024. According to data from asset servicer Citco, hedge funds showed positive performance across most strategies, with a weighted average return of 1.7% for May. Fixed income arbitrage strategies led the category with a 2.7% return. Hedge funds also experienced further net inflows, with hybrid funds particularly attracting investor interest. Hedge funds rebounded strongly from April, maintaining a positive overall trend for 2024 with a year-to-date return of 8.26%.

According to Aurum Research hedge fund performance was generally positive in May; most strategies, particularly those with a higher beta to equities, had positive performance. The average asset weighted hedge fund net return across all strategies was 0.73%.

Meanwhile, Goldman Sachs said that hedge fund managers making bets on mergers and acquisitions outperformed those deploying other strategies with a return of 7.7% in the first five months of 2024, Goldman Sachs said in a note to clients, as deal-making rebounded.

In new launches, Steve Cohen's Point72 Asset Management is seeking to raise about $1 billion for a new stock-picking hedge fund focused on artificial intelligence, according to people familiar with the matter; Castle Ridge Asset Management, an Artificial Intelligence (AI)-driven hedge fund manager has announced the launch of its AI Multi-Strategy, and credit manager Sona Asset Management raised $800 million in a bid to provide custom financing to businesses struggling to access cash, as John Aylward's hedge fund firm capitalizes on a retreat by conventional banks.

Meanwhile, Hamilton Lane has closed its ......................

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