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In the week ending June 12th 2024, HFR reported revealed that hedge funds posted mixed performance in June as election and political risks surged throughout Asia, Europe and the US. European and Asian central banks cut interest rates despite persistent inflationary pressures, while US large cap Technology stocks extended gains to record highs. With declines in uncorrelated Macro strategies offsetting gains in fixed income based Relative Value Arbitrage and Equity Hedge strategies, the HFRI Fund Weighted Composite Index (FWC) declined -0.2 percent in June, posting only the 2nd decline in the last eight months.

In the meantime, the Q2 2024 edition of the HFCI surveyed approximately 250 hedge fund firms worldwide, collectively managing approximately $2 trillion in assets - the results show an average confidence level of +16.5, down slightly from Q1 (+19) and below the rolling historic average of +17.7.

In new launches, Lombard Odier Investment Managers (LOIM), the asset management business of the Lombard Odier Group, has launched a quantitative hedge fund to identify company earnings surprises; AXA IM Alts, the alternative investment arm of French insurer AXA, has raised over €2.3 billion ($2.5 billion) in its Significant Risk Transfer (SRT) strategy exceeding its target, and Monomoy Capital Partners, a private investment firm focused on the middle market, has closed its fifth fund a......................

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