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Pivotal Point of View – April 2025
Tariffs caused markets to tumble, managers sold off at the most accelerated rate in over a decade, and adjusted for new economic conditions by cutting gross and net leverage.
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Hedge funds miss out on US equities rally but suffer smaller losses in volatile two days
Global equities long/short hedge funds missed out on most of Wednesday’s massive rally in U.S. stocks, triggered by President Donald Trump’s pause on some tariffs for 90 days, but managed to limit their losses during Thursday’s sell-off. The funds were up 0.98% on April 9, while the S&P 500 (.SPX), opens new tab index soared 9.5%, according to numbers compiled by […]
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Investors learned a painful lesson on portable alpha during the financial crisis. Why they’re now taking a second look.
Hedge fund investors are increasingly paying attention to a strategy that hit its zenith of popularity and assets nearly two decades ago before being badly battered during the global financial crisis: portable alpha. The Global Financial Crisis exposed significant weaknesses and the strategy took a beating. But is it getting a second chance? Jon Caplis […]
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Pivotal Point of View – March 2025
Tariffs unnerved markets, managers took a bearish tilt, while allocators maintained their strong interest in fresh hedge fund investments.
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Hedge funds dodge January downside as ‘underlying fear’ stalks markets
A number of strategies navigated the DeepSeek turmoil and tariff threats rather well. Avoiding the downside and making the most of the upside as markets returned to normal. The PivotalPath Composite Index was up 1.5% in January, while most other indices also generated positive returns. Highlights included the PivotalPath Equity Sector: Technology/Media/Telecom Index, as well […]
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Pivotal Point of View – February 2025
January’s DeepSeek and US tariff broadsides were largely dodged by managers over a rollercoaster month. The PivotalPath Hedge Fund Composite Index ended January up 1.5%, while the rest of our main indices also generated positive returns.
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Hedge funds posted double-digit returns in 2024. Will investors allocate more?
When analyzing hedge fund performance, the right context matters. This week Pensions & Investments cited PivotalPath’s highly accurate hashtag#hedgefund indices, while posing the question, will 2025 see increased allocations after a vintage year of returns? PivotalPath believes 2025’s positive flows will be built on the outperformance of 2024. The PivotalPath Composite Index was up 10.7% […]
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Podcast Spotlight: Hedge Fund Performance and 2025 Trends on Alternative Fund Insight
How will 2025 shape the future of hedge funds? In this episode of the Alternative Fund Insight podcast, PivotalPath Founder and CEO Jon Caplis sits down with Richard Quigley of Goldman Sachs Asset Management to reflect on 2024’s performance and explore the trends set to define the year ahead.
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Pivotal Point of View – January 2025
Hedge funds rode December’s volatility well, with the PivotalPath Hedge Fund Composite Index up 0.3% across the month.
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The Year That Hedge Funds Got Their Mojo Back
Hedge funds are having a moment. Will it last? In a year when everything seemed to go up, the industry generated some of its strongest, and most consistent, returns in a decade. The big question for investors: Was 2024 a turning point, or will the recent trend of so-so—and sometimes dismal—returns quickly reassert itself? On average, […]
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