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In the week ending November 08th 2024, HFR reported that hedge funds posted declines in October on mixed strategy performance as investors positioned for the US Presidential election and as corporate earnings ranged widely from strong to weak, coupled with the continued escalation of military conflicts in the Middle East and Eastern Europe. The HFRI Fund Weighted Composite Index (FWC) declined -0.7 percent in October, while the HFRI Asset Weighted Composite Index fell -0.6 percent for the month, according to data released today by HFR. Performance gains of +0.6 percent in the HFRI Relative Value Index were more than offset by declines in the HFRI Macro (Total) Index, which fell -2.0 percent in October.

Meanwhile, hedge fund capital rose to a fourth consecutive quarterly record as the combination of election and geopolitical risks, which have dominated financial market performance throughout 2024, accelerated into 4Q with the US election. Total global hedge fund capital increased to an estimated $4.46 trillion, an increase of $148 billion over the prior quarter on new investor inflows of $15.86 billion, as investors positioned not only for the election and geopolitical risks, but for powerful trends in falling inflation/interest rates, technology, energy, cryptocurrencies and M&A.

In new launches, Coatue Management is looking to raise $1 billion to amplify bets on artificial intelligence and tech innovation, marking the first time in several years it has sought cash for the flagship fund; BlackRock Inc. is setting up a private credit loan fund that will allow it to raise as much as $1.3 billion it can distribute to existing investors, people with knowledge of the matter said, and Rational Fu......................

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