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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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The Volatility Effect on Hedge Funds
This is part three of a series in which PivotalPath parses hedge fund performance under macroeconomic regimes.
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Equity hedge funds cut risk in portfolios, less confidence in rallies
Equity long/short managers have generally adopted an increasingly defensive position since Q4 of 2021, in light of challenging macroeconomic conditions.
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Hedge Funds Remain In The Green After Q3 — With One Noticeable Gap
After an extended period of underperformance, equity quant managers notched a strong start to 2021.
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