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Pivotal Point of View – November 2024
Despite October’s volatility, hedge funds did a credible job of besting the wider markets over a challenging month, with the PivotalPath Hedge Fund Composite Index flat at 0.1%.
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Bond hedge fund Arini up 23.4% betting against European satellites and autos, says letter
Former Credit Suisse bond trader Hamza Lemssouguer’s main $3.7 billion fund at Arini jumped 23.4% through the end of October, benefiting from bets against European manufacturers facing U.S. and China headwinds, said a source and an investor letter. The year-to-date gains beat recent industry averages for hedge funds trading corporate debt, which have returned 9% […]
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Hedge-Funds Hit by ‘Arbageddon’ Sense Brighter Future After Trump Win
A string of busted deals has hit the venerable hedge-fund industry strategy of merger arbitrage A new presidential administration may mean new opportunities in M&A. For the merger arb space, this could lead to a much brighter future. For context, funds focused on mergers have had a more challenging year than most. The PivotalPath Merger […]
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Commodity trading advisers see a ‘resurgence,’ says co-CIO of Winton Group
Are CTAs making a comeback? As always, context matters and as we shared with Lydia Tomkiw at Pensions & Investments, 2022 was a big year for Managed Futures. The PivotalPath Managed Futures Index finished that year up 14.7%. This year through Sept. 30, the Index is up 3.4% and has annualized 5.1% over the last […]
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Hedge funds search for trades in dead-heat US election
With election day finally here, many hedge funds have been focused on other more concrete trends, as the race has been impossible to predict. But it’s worth noting how the industry has performed coming into the election. As we noted in a recent conversation with Carolina Mandl of Thomson Reuters, the PivotalPath Composite Index gained […]
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Wall Street Pros Get Into Position to Profit From a Trump Win
While polling shows a tight race, some investors are putting on wagers that could pay off if Trump beats Harris
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Pivotal Point of View – October 2024
Hedge funds continue to deliver. Since January 2020, the PivotalPath Composite Index has annualized returns of 7.8%, with a Sharpe Ratio of 1.64, while most importantly, generating alpha of ~6.4% per annum (with a beta of only 0.12).
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Bloomberg Television: How To Position Ahead of Election
How are hedge funds positioning themselves ahead of the election? And is it any different from years past?
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Activist Palliser Pushes for Change at AI Chip Investor SK Square
As always, context matters. And in the case of Palliser’s push for changes in the increasingly valuable AI chip producer, SK Square, how does their YTD performance compare to the hedge fund industry at large? We shared some numbers with Caitlin McCabe for the The Wall Street Journal, including an 8.2% rise in our hedge […]
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Wall Street Pros Avoid Election Bets With Race Too Close to Call
With less than a month to go until election day, many hedge fund managers are taking a new approach: wait and see. Jon Caplis shares some thoughts with Natalia Kniazhevich of Bloomberg on how Wall Street is approaching the election this year. Hedge funds are “waiting until there’s more clarity before making significant politically connected […]
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