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In the week ending August 02 2024, Reuters reported quoting Goldman Sachs that global hedge funds have trimmed their exposure to Chinese equities to the lowest in five years while ramping up investment in Japan. Hedge funds' net allocation to China, including investments in onshore and offshore Chinese equities, fell to the lowest level in five years. In contrast, allocations to Japan climbed to four-year highs by the end of July.

The Scotiabank Canadian Hedge Fund Index (SCHFI) demonstrated solid performance in the first half of 2024, highlighting the resilience of Canadian hedge funds in a challenging market environment. The asset-weighted index closed June up 7.23% year-to-date, outpacing both the S&P/TSX Composite (+4.38%) and the DEX Universe Bond Index (-0.33%).

In new launches, the former managers of Liontrust's Tortoise fund, Matthew Smith and Tom Morris, are launching a new absolute return hedge fund; Rubric Capital Management is raising money for a new fund - the hedge fund firm headed by David Rosen, a Point72 Asset Management alum, is seeking capital for Rubric Long Term Opportunities Onshore Fund and an offshore equivalent, and Brevan Howard's crypto hedge fund has launched a new unit targeting companies that have digital assets on their balance sheets.

Meanwhile, alternative investment manager Ares Management Corp. has closed its latest direct lending fund - Ares Senior Direct Lending Fund III (SDL III) - with a capital base of $34 billion, making it the largest in the investment manager's history; Arcmont Asset Management is planning to raise over €12 billion ($13 billion) for a new ......................

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