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Opalesque Roundup: CTAs and trend-following hedge fund strategies maintain their momentum, hedge fund news, week 20

In the week ending May 15th 2020, CTAs and trend-following hedge fund strategies maintained their recent impressive momentum, profiting from continued trends across commodities and bond markets, new Société Générale data for April showed. As the economic toll of the novel coronavirus mounted, managed futures posted another positive month in April and gained 0.12% according to the Barclay CTA Index and year-to-date, CTAs gained 1.43% through the end of April.

BarclayHedge also said that U.S. stocks had their best month in decades in April and hedge funds sailed to a 5.46% return in April, according to the Barclay Hedge Fund Index. By comparison, the S&P 500 Total Return Index was up 12.8% in April.

eVestment also said that hedge funds gained an average of +5.02% in April after the largest average monthly loss on record in March, bringing average losses to -7.49% for the year. It is important to remember that while March losses were worse than any single month prior, during the global financial crisis there were large losses in both September and October, and losses in surrounding months as well though not of the same magnitude.

Echoing the same sentiments, hedge funds recouped some of the losses they suffered amidst pandemic-induced market chaos, said Eurekahedge. The Eurekahedge Hedge Fund Index was up 3.73% in April - recording its strongest monthly performance in recent years, supported by the strong performance of the underlying global equity market as represented by the MSCI ACWI IMI (Local), which gained 10.47% over the month.

In new launches, London-based hedge fund Cheyne Capital is planning a new vehicle to buy up debt that's been excessively punished by the coronavirus selloff, the latest in a number of investment firms targeting distressed credit; Emergence, the fund dedicated to accelerating entrepreneurial management companies, announces that it has appointed NewAlpha Asset Management as the investment manager of its future European sub-fund, Emergence Europe, which will be launched before the end of the year, and US-based asset manager Golub Capital announced that it has raised $3 billion of new investment firepower in the past six weeks.

In the meantime, Colorado-headquartered private equity investor Rubicon Technology Partners closed a new fund, Rubicon Technology Partners III, at over $1.25 billion, exceeding the fund target of $250 million set by the company; BDT Capital Partners raised $9.1 billion for its third investment fund, exceeding the amount it had initially sought and Digital Colony, an arm of Tom Barrack's Colony Capital Inc., is seeking at least $6 billion for its second fund dedicated to communications-infrastructure bets

Further in new launches, international investment firm Cathay Capital Private Equity announced the final close of its second Sino-European Mid Cap Fund at $850 million; As economic prospects cloud and volatility returns to all asset classes, investors are looking for alternatives to traditional alternative investments and meeting this need, the Aaro DLT Multifund launched on May 1, 2020; Thoma Bravo is back in the market seeking commitments for its third fund focused on midmarket investments, despite the disruptions posed by the coronavirus pandemic; Dallas-based venture capital firm Energy Spectrum Capital has wrapped up fundraising for its latest vehicle with $969 million; Crow Holdings is targeting a $1.5bn (€1.4bn) capital raise for its latest US value-add real estate fund, while Fortress Investment Group LLC is seeking more than $1 billion for its second lending fund

In performance news, CQS Directional Opportunities fund, a hedge fund run by billionaire trader Michael Hintze has suffered a second large fall in as many months, leaving it down roughly 50 per cent in what is shaping up to be its worst ever run of performance; After suffering its third-worst quarter in its history the Tiger Cub's major funds enjoyed their second-best month in the firm's history in April, according to its first- quarter letter obtained by II; Odey Asset Management's Odey European fund fell 9.5% in April and is now down 3.7% in 2020; Eric Bannasch's Cadian Capital surged about 18 percent last month, exceeding the S&P 500's 13 percent gain during the stock market's best month since 1987, and Verde Asset Management's flagship fund climbed 8.6% in April, its biggest monthly gain since 2009.

In institutional investor news, Texas Teacher Retirement System, Austin, committed $725 million to five alternative investment funds in April, a transaction report from the $167.2 billion fund showed; Louisiana Teachers' Retirement System, Baton Rouge, app... Click here to read Opalesque's full article

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Battle of the Quants – London, September 27th, Royal Automobile Club

The 17th Annual Battle of the Quants - London will focus on themes including best performing quant strategies, investor priorities, alternative data, ESG and digital assets. The event will bring together quantitative managers, investors, data buyers, data providers, crypto and sustainable industry experts.

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More information: www.battleofthequants.com/london-2022

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Longevity Investors Conference Gstaad, Sept. 28–30

Please be invited to the world's leading and most private investors-only get-together in the longevity field: Longevity Investors Conference, taking place at the Le Grand Bellevue Hotel in Gstaad, Switzerland on September 28-30 (Wednesday-Friday).

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The event is almost sold out, but you can still apply for the last seats here: https://www.longevityinvestors.ch/applicationform

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AIMA European Digital Assets Forum, Marriott Zurich Oct. 5th

AIMA will be hosting AIMA will be hosting European Digital Assets Forum 2022 in Zurich, Switzerland on Wednesday 5 October. The half-day Forum (afternoon) will convene investment managers, allocators and industry professionals at the intersection of alternative investments and digital assets.

Speakers and participants will explore the latest frontiers of digital asset investing and opportunities, including the operational, compliance, regulatory risks and challenges that need to be bridged for true institutional adoption.

More information, registration: https://www.aima.org/events/aima-european-digital-assets-forum-2022.html

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Legends4Legends Charity Conference Oct. 27th, EYE Film Museum Amsterdam

Theta Capital is excited to invite you to the 6th annual Legends4Legends conference on 27th October 2022 at the iconic EYE Film Museum in Amsterdam.  

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13th AIM Summit Dubai Edition 21-22 Nov. 2022

The 13th Edition of The Leading Alternative Investment Management Summit in Dubai focuses on the central theme of navigating through the current global economy - inflation, stagflation and recession, and will gather this year, the world's leading economists, market movers and investment experts to share their insights, opportunities and strategies speculating on the current and future market conditions.

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K2Q Capital’s Shin Samurai strategy: Identifying patterns not visible to others

K2Q Capital’s Shin Samurai strategy is a statistical systematic Japan macro strategy using trend following and mean reversion models. K2Q’s investment approach is unique as it combines Aman’s decades of successful trading and investment acumen with cutting-edge academic rigour and innovation. ...

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Technical Research Briefing

S&P FUTURES (@ES) – Daily

Currently: Long Looking to: Sell @ 4,118.75

As of 3/21/21 @ 7:58pm EST: 3,896

LAST WEEK: We suggested buying dips to 3,875 with stops on a close below 3,840 and with a target for selling longs / getting short at 4,118.75.

UPDATE: S&P futures had a terrible day Thursday and limped into the weekend. Right now, we put possible short-term ceilings at 3,918 or 3,950. If 3,918 holds as short-term resistance, we will look for a dip in the ES futures to 3,818 – 3,820. If 3,950 is tested and holds as resistance instead, we will look for a dip to 3,848 – 3,850 to follow. After this bounce and subsequent dip, we will be buying S&P futures aggressively (unless evidence presents itself that forces us to change our opinion) near one of those support levels.

We would look to buy dips to either 3,849 or 3,818.50 with stops honored on a close below 3,847 and 3,815, respectively. The upside target for either entry will be 4,119. NO SHORTING RIGHT NOW!

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