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☆ Hedge fund Citadel expects to return $7 bln in profits to clients - source
▼ + stars: | 2022-12-21 | by ( Carolina Mandl | ) www.reuters.com time to read: +1 min

Dec 21 (Reuters) - Hedge fund Citadel expects to return about $7 billion in profits to its investors in the first week of January after a stellar performance this year, a source familiar with the matter said. Reuters reported this month that this year was shaping up to be one of Citadel's best years in terms of performance. The hedge fund firm, which manages $59 billion in assets, told investors its flagship Wellington fund returned roughly 32% through the end of November. It has returned more than $11 billion in the last five years as it is more focused on performance, not on capital growth, the source said. The Wall Street Journal first reported the expected capital return earlier on Wednesday.

"Avatar: The Way of Water" premiered December 16 exclusively in theaters. Though the movie is currently exclusive to theaters, it's expected to hit Disney Plus at some point in 2023. Like the original movie, "Avatar: The Way of Water" is directed by James Cameron ("Titanic"). As of December 16, there is no official streaming date set for "Avatar: The Way of Water." The sequel repeats one of the biggest draws of the first "Avatar" movie in terms of being a groundbreaking visual spectacle.

The same funds averaged a decline of 0.58% in 2021, according to the HSBC data seen by Reuters. HSBC follows eight funds which take long and short positions in Chinese equities. This year, three hit HSBC's global list of the bottom 20 hedge fund performances for the week ending Nov. 4. The $1.9 billion Golden China fund from Greenwoods Asset Management, was down 45% for the year to Oct. 31; the $152 million Zeal China Fund from Zeal Asset Management, was down 38% for the same period; and the $156 million Telligent Greater China fund from Telligent Capital down almost 40%. HFR, another company which tracks hedge fund performance but does not disclose the constituents of its indices, said its index of Chinese hedge funds was down 27% so far this year.

These same funds averaged a 0.58% decline in 2021, according to the HSBC data seen by Reuters. HSBC follows eight funds which take long and short positions in Chinese equities. This year, three hit HSBC's global list of the bottom 20 hedge fund performances for the week ending Nov. 4. Net selling of Chinese equities by international active funds totalled around $30 billion over the past year and global hedge fund allocations in Chinese equities have declined from 15% at the 2020 peak to 8% now, Goldman Sachs estimates. HFR, another company which tracks hedge fund performance but does not disclose the constituents of its indices, said its index of Chinese hedge funds was down 27% so far this year.

☆ Global hedge funds advance in October amid stocks rally
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +1 min

Equities, event-driven and macro hedge fund indexes went up last month, according to HFR, adding two-thirds of all hedge funds posted gains. Only macro hedge funds, however, delivered positive returns to investors in the first 10 months of 2022. In October, macro funds rose 0.95%, raising their gains in the year to 11.51%. Event-driven hedge funds soared 3.7% in October, the highest return among all categories. Equities hedge funds jumped 2.93%, posting their first gain since August and their highest monthly return this year.

☆ Hedge funds see $26 bln in net outflows in Q3 - HFR
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: 1 min

NEW YORK, Oct 20 (Reuters) - Global investors redeemed $26 billion from hedge funds in the third quarter, in the second consecutive quarter of net asset outflows, industry data provider HFR said on Thursday. In the year, investors pulled out $33.7 billion from hedge funds worldwide, HFR showed, as poor performance has spooked pension funds, endowments and family offices. The HFRI fund-weighted composite index is down 6.66% this year through September, as portfolio managers struggle to navigate highly volatile markets. Assets in the hedge fund industry fell almost $220 billion since the end of 2021, to $3.7 trillion, hit by poor performance and redemptions. Register now for FREE unlimited access to Reuters.com RegisterReporting by Carolina Mandl, in New YorkOur Standards: The Thomson Reuters Trust Principles.

☆ Asia hedge fund losses grow in Q3, poised for worst year since 2008
▼ + stars: | 2022-10-19 | by ( Summer Zhen | ) www.reuters.com time to read: +3 min

“It’s a very painful third quarter for (Asia) hedge fund managers’ performance. Repeated lockdowns in many Chinese cities, a risk-off mode ahead of the party congress and geopolitical risks affected market sentiment. The magnitude of central bank policy moves and frequent macro headlines created profitable trading opportunities for macro hedge funds globally, analysts said. The HFRI Asia ex-Japan Index tracks funds that target more than 50% of their investments in the Asia ex-Japan region. Japan-focused hedge funds fared relatively well, with the HFRI Asia index that includes Japan, down just 3.3% in September and 3.9% this year.

☆ Turbulent markets jolt currency hedge funds from decade-long slumber
▼ + stars: | 2022-10-18 | by ( Nell Mackenzie | ) www.reuters.com time to read: +6 min

But a post-crisis wash of central bank quantitative easing and developed-world interest rates barely above zero sapped the near $7 trillion-a-day global currency markets of the kind of flows that hedge funds thrive on. Similarly, HFR’s HFRI 500 Currency Index, which also tracks these funds, is up 8.29%, its best performance since 2007 and soundly beating the 3.8% rise in a broader hedge fund index. The years of muted volatility culled existing currency hedge funds and deterred the creation of new ones, a process which typically takes 7-8 months. (Currency hedge fund launches and closures )A few stuck it out. It has a $4.5 billion currency fund and a $4.4 multi-asset fund, recent public disclosures showed.

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☆ Analysis: Market turmoil a boon for trend-following hedge funds
▼ + stars: | 2022-10-17 | by ( Nell Mackenzie | ) www.reuters.com time to read: +4 min

Oct 17 (Reuters) - Trend-following hedge funds are capitalising on market disruption and geopolitical unrest, with funds such as Graham Capital Management, Aspect Capital, AlphaSimplex and AQR Capital Management all near or over 40% higher for the year. AQR is part of an index of the 10 largest trend-following hedge funds, compiled by Société Générale. The index has risen almost 37% this year, compared with a 3.8% increase in data provider HFR's broader index of hedge fund performance. Hedge funds Man Group, AlphaSimplex and Transtrend have reported trend strategies with performances this year of roughly 15%, 48% and 31% respectively. Funds in the Société Générale CTA index include AQR Capital Management, AlphaSimplex Group, Aspect Capital, Systematica Investments, Graham Capital Management, ISAM LLP, Lynx Asset Management, Man Group's AHL fund, Transtrend and Winton Capital Management.

This was the fourth straight week that funds have reduced their collective bet on rising U.S. interest rates. A short position is essentially a wager that an asset's price will fall, and a long position is a bet it will rise. Funds are now holding the smallest net short three-month SOFR position since July, and it has pretty much halved in the last six weeks. There have only been 11 weeks of bigger net short positions since the contract's launch over 30 years ago. "With 2s already at 4.5% and the terminal Fed funds rate in March 2023 almost at 5%, it seems unlikely that 2s can sell-off much more in the near term.

It also encapsulates macro hedge funds' trading strategy today - while most investors got smoked in the third quarter as stocks, bonds and commodities slumped, macro funds raked it in thanks to the surging U.S. dollar. There is little indication the wave is about to crash any time soon, and although hedge funds have reduced their exposure in recent weeks, they remain comfortably long. LONG, LONG, LONGThe dollar index, a measure of the greenback's value against a basket of six major currencies, rose 7.1% in the third quarter, its best performance since early 2015. But CFTC hedge funds have held a net long dollar position every week since August last year, and a $10 billion bet is still a pretty resounding endorsement of the U.S. currency over its major rivals. With numbers like these, it looks like funds may be buying dollars and wearing diamonds for a good while yet.

☆ Wild UK market swings 'opportunity of a lifetime' for hedge funds
▼ + stars: | 2022-09-28 | by ( Nell Mackenzie | ) www.reuters.com time to read: +3 min

British pound coins are seen in front of displayed stock graph in this illustration taken, November 9, 2021. REUTERS/Dado Ruvic/IllustrationSept 28 (Reuters) - The wild swings seen in British markets provided an "opportunity of a lifetime" to trade currencies and bonds, hedge funds and traders said on Wednesday. The BoE said it would buy 65 billion pounds ($71 billion) of UK bonds as needed between now and Oct. 14 to stabilise markets. Taylor said he was short sterling and had been for most of the year. Year to date, hedge funds that trade on macroeconomic signals were up on average, 6.47% according to HFRX, a daily reporting index of hedge fund performance from HFR.

☆ French luxury goods company LVMH invests in designers of color. Black creatives are cautiously optimistic about the impact.
▼ + stars: | 2022-09-10 | by ( Marguerite Ward | ) www.businessinsider.com time to read: +7 min

A Harlem's Fashion Row event showcased creatives and designers of color. The Harlem's Fashion Row show is one of recent steps by LVMH to become more diverse and inclusive. Black creatives and fashionistas of color are cautiously optimistic, saying LVMH could set a new standard for an industry that's long had a problem with diversity. Harlem's Fashion Row CEO Brandice Daniel said the partnership with LVMH felt intentional and serious in nature. I think it's incredible that HFR and Black designers in general are getting this kind of support," Daniel, who is Black, said, referring to Harlem's Fashion Row.

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