- Follow AFI’s latest performance updates and archive. Annual subscribers can access all analysis, data and research
Multi-strats navigate January volatility
Leading multi-strats posted gains in January, a month of market and macro turbulence as President Trump’s second term began and DeepSeek’s emergence knocked US AI supremacy.
Citadel’s Wellington flagship made 1.4% (Reuters), while Millennium’s main fund made 0.5% and Balyasny was the top Power List ($10bn+) performer, making 2.5% in its flagship, followed by Schonfeld on 2.2% (BI).
Mega funds managing more than $10bn outperformed smaller peers in 2024, as the largest hedge fund groups proved the value of scale, according to PivotalPath data reported by AFI.
Related: AQR hedge funds begin 2025 with gains
RBC BlueBay CIO’s global outlook
Political turbulence and macroeconomic volatility make it a great environment for active fixed-income investors, says Mark Dowding, CIO of RBC BlueBay’s $130bn fixed-income unit.
Joining episode 32 of the AFI podcast, Dowding explains why relative value investing is well suited to the volatility and dissects the implications of Trump’s second term for markets and macroeconomics.
It is a fascinating insight into his trading approach, particularly how political research informs his trades, and his outlook across different asset classes in 2025.
