Tuesday, January 31, 2023

Multi-strategy delivers for Aurum in Q3


  • Multi-strategy exposure excels in volatile Q3
  • Aurum products advance, though long/short equity down
  • Bias towards trading-orientated managers paid off in 2022: Aurum

Aurum’s holdings of multi-strategy funds outperformed in Q3, another volatile quarter for markets and the industry.

“Quant, macro, energy trading and fixed income relative value were generally additive,” reported the London-based fund of hedge funds.

“Fundamental equity market-neutral team strategies successfully traded through this period and also generally seemed to navigate the ongoing factor rotations between growth and value.”

Macro contributed positively to performance, though the Bank of England’s intervention in the gilts market left some “wrong-footed by the move, which detracted from performance.”

Long/short equity was a net negative contributor. Aurum’s products delivered gains ranging from 1.6% to 2.8% over the quarter.

Read the update here.