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How D.E. Shaw Performed in 2023
After 22 years since its launch, D.E. Shaw’s largest multi-strategy fund — the D.E. Shaw Composite Fund — has posted yet another round of positive performance.
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In November, Hedge Funds Enjoyed Their Best Month Since January
November was the best month for hedge funds since January.
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D.E. Shaw’s Biggest Hedge Fund Returned Almost 10% in 2023
Mutistrategy and macro hedge funds posted a wide range of results in 2023, unlike the previous year, when many of the industry’s biggest firms boasted double-digit gains.
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Rise of the “anti-pod shop” — new models fight the dominant multi-PM platform
Consistent performance in the higher rate environment of coming years will determine which firms succeed in the space as excess returns become core to LP decision-making. “A higher risk-free rate changes the dynamic and requirement for investor expectations,” said Jon Caplis of industry research firm PivotalPath.
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Pivotal Point of View – December 2023
The PivotalPath Composite Index rose 2.0% in November, bringing the Index to
+5.8% YTD. The Index continues to generate positive alpha of 3.9% relative to the
S&P 500 (S&P) over the last 12 months.
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Alternative Fund Insight’s podcast: What higher-for-longer means for hedge fund returns, LP priorities and multi-strats.
Allocators are expecting more from hedge funds in a higher rate environment, but it should boost the performance of some strategies, according to Jon Caplis, founder of PivotalPath in New York. Listen to learn how PivotalPath is providing unique transparency for institutional allocators, and the firm’s view on today’s landscape.
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Citadel and Its Peers Are Piling Into the Same Trades. Regulators Are Taking Notice
Citadel, Millennium, Balyasny and Point72 are compared to the PivotalPath Multi-Strategy Index.
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20 Largest Hedge Hedge Funds in the World and Their Top Stock Picks
PivotalPath quoted in Yahoo Finance for its sector index data data, To date every strategy it monitors has been profitable so far this year.
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Managed Futures Exposure to Treasuries Historically Negative
The swift rally across the curve had a large negative impact on funds that were short Treasuries, including managed futures funds/CTAs. Of note is that February 2021 represents a turning point for the Managed Futures sector, which has been historically mostly long bonds, until then.
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