Some of the world’s biggest hedge funds known for delivering steady returns lost money in March as the war in the Middle East roiled markets across energy, bonds and equities and forced traders to unwind crowded positions. Multistrategy hedge funds ranging from ExodusPoint Capital Management to Balyasny Asset Management and Millennium Management posted declines, giving up all or part of their gain...
Some of the world’s biggest hedge funds known for delivering steady returns lost money in March as the war in the Middle East roiled markets across energy, bonds and equities and forced traders to unwind crowded positions. Multistrategy hedge funds ranging from ExodusPoint Capital Management to Balyasny Asset Management and Millennium Management posted declines, giving up all or part of their gains from the prior two months, according to people with knowledge of the matter who asked not to be identified because the details are private. There were, however, some notable winners such as Kepos Capital ’s Alpha fund and Swiss firm ADAPT Investment Managers . The escalating conflict that choked off shipping traffic through the crucial Strait of Hormuz sent oil prices surging, while fears over inflation upended interest rate expectations and triggered a bond selloff. Earlier in March, JPMorgan Chase & Co. strategists said hedge funds experienced their biggest drawdown since the Liberation Day tariff turmoil, with commodity trading advisers hit by their worst stretch in almost a year and equity long-short funds posting heavy losses due to overweight positions in European stocks. Here are estimated returns for some hedge funds: Kepos Alpha Systematic Macro 7.5% 9.3% ADAPT* Relative Value 4.1 8.3 Winton Multistrategy 0.3 6.7 Centiva Multistrategy 0.1 3.9 Schonfeld Fundamental Equity Multimanager equity 0 1.6 Schonfeld Strategic Partners Multistrategy 0 0.9 Kite Lake Special Opportunities Event-Driven -0.1 2.5 Modular Asian Macro Macro -0.5 2.9 North Rock Multimanager - Equities -0.7 2.1 Millennium Multistrategy -1.2 1 Walleye Multistrategy -1.3 -2.6 Man Strategies 1783 Multistrategy -1.6 4.2 Brummer Multi-Strategy Multistrategy -1.9 4.3 LMR Multistrategy -2.4 -0.3 Pinpoint Multi-Strategy Multistrategy -2.5 4.0 Dymon Multistrategy -4.3 6.0 Balyasny Multistrategy -4.3 -3.8 ExodusPoint Multistrategy -4.5 -2 Coatue Equity -4.8 -3.5 FengHe Asia Equity Long/Short -5.3 11.5 Pharo M...
Beijing calls on cities to join global industrial cooperation network China’s Ministry of Industry and Information Technology is inviting domestic cities to apply to join a new international partner-city network on industrial transformation, part of a broader initiative launched with government agencies from 19 countries. The initiative aims to promote global cooperation in areas such as digital t...
Beijing calls on cities to join global industrial cooperation network China’s Ministry of Industry and Information Technology is inviting domestic cities to apply to join a new international partner-city network on industrial transformation, part of a broader initiative launched with government agencies from 19 countries. The initiative aims to promote global cooperation in areas such as digital transformation, green and low-carbon development, supply chain coordination, innovation resource sharing, SME support and talent development. The final list of the selected cities will be unveiled at a BRICS forum scheduled to be held in May.
The past month and quarter were rocky ones for investors as they faced a wall of uncertainties -- from the potential of artificial intelligence (AI)-driven growth to the future of the war in Iran. The S&P 500 swung from gains on any positive news to losses on any negative signs, and a famous volatility benchmark -- the VIX -- soared, suggesting that investors were feeling fearful. As a result, the...
The past month and quarter were rocky ones for investors as they faced a wall of uncertainties -- from the potential of artificial intelligence (AI)-driven growth to the future of the war in Iran. The S&P 500 swung from gains on any positive news to losses on any negative signs, and a famous volatility benchmark -- the VIX -- soared, suggesting that investors were feeling fearful. As a result, the S&P 500 completed a losing month and quarter, declining 5% and 4.6%, respectively. But the situation was much brighter just a short time ago. The benchmark extended its bull market run into three years as of October, and over the past three calendar years, it advanced 78%. This was as investors piled into growth stocks, particularly in areas such as AI and quantum computing -- they were looking for the next big thing in tech, and many of these tech stocks delivered major rewards, climbing in the double and triple digits. Investors were also optimistic about the lower interest rate environment, as this backdrop makes it easier for companies to borrow and for consumers to spend. Continue reading
Poland’s prime minister says prospect of an energy crisis in Europe and Viktor Orbán’s moves to block support for Ukraine also play into Russia’s hands Poland’s prime minister Donald Tusk has warned that Donald Trump’s repeated threats of breaking up Nato, the prospect of a “massive” energy crisis in Europe, and Viktor Orbán’s moves to block aid and money for Ukraine all look like “Putin’s dream p...
Poland’s prime minister says prospect of an energy crisis in Europe and Viktor Orbán’s moves to block support for Ukraine also play into Russia’s hands Poland’s prime minister Donald Tusk has warned that Donald Trump’s repeated threats of breaking up Nato, the prospect of a “massive” energy crisis in Europe, and Viktor Orbán’s moves to block aid and money for Ukraine all look like “Putin’s dream plan.” In a rare social media post in English, he said: “The threat of Nato’s break-up, easing sanctions on Russia, a massive energy crisis in Europe, halting aid for Ukraine and blocking the loan for Kyiv by Orbán - it all looks like Putin’s dream plan.” Continue reading...