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April gains outweigh pain in volatile April
Hedge funds have emerged from the market chaos of April mostly in the black, with many leading single and multi-managers gaining after early-month losses. Headlines include:
- Wellington, the flagship fund at Citadel, and Millennium’s flagship fund were up 1.3% and 0.5%, respectively. Wellington is now up 0.5% for the first four months.
- ExodusPoint and Point72 were the top-performing multi-strategy majors, making 2.8% and 2.3%, according to reports.
- AQR Capital Management, which now manages $131bn, declined 0.7% in its Apex multi-strategy product but it remains up 8.1% for the year. Its managed futures funds stood out after a challenging month for the strategy: Helix, its alternative trend following strategy, made 3.7% and is now up 6.8% YTD and AQR Managed Futures Full Volatility Strategy trimmed its yearly gain to 6.6% after losing 1.4%.
Blackstone backs top pod-shops
Joe Dowling, head of Blackstone Multi-Asset Investing, has given a ringing endorsement of the multi-strategy model in a new interview. The unit is one of the world’s largest hedge fund allocators and ranked second in AFI’s closely-watched Power25 ranking of influential investors.
Hedge Fund Allocator Profiles: Top 10
Link to the most influential allocators of 2024, rounded up on one page.
AIMA’s wishlist for new SEC chair
The leaders of AIMA have written to new SEC chair Paul Atkins outlining their top priorities for the commission following the departure of Gary Gensler. Here are three top priorities from the letter.
Hedge fund auditor rankings
EY, with 168 qualifying clients, is ahead of PwC, KPMG and Deloitte on the hedge fund auditor ranking based on the AFI 500, and leads in most strategies.
The “Big Four” accounting firms are some way ahead of the chasing pack. Deloitte is fourth with 60 clients on the AFI 500, more than four times Grant Thornton in fifth. Read more, including rankings by strategy.
Kilometres for Kids fundraiser
The UK arm of Help for Children (HFC) has launched its annual physical challenge to raise essential funds for programmes which help protect vulnerable children and victims of abuse and support survivors. This year’s challenge will be a multi-month collaborative endurance run culminating in a half marathon at Denbies Wine Estate in Surrey. Read more.
Discover AFI’s full range of research and analysis covering the global hedge fund and multi-strategy sector, including:
- The AFI 500, providing strategy, location and service provider intelligence, plus a ranking by gross assets.
- Power25 allocator research, as featured in the Financial Times, providing intelligence on the most active and influential investors into the space.
- Quarterly launch market reports. Visit the data section for rolling updates on launches and people moves.