TMThedgefunds are struggling so far this year. As our CEOJon Caplis shares withHema Parmar andKathy Burton ofBloomberg LP, what drove significant outperformance in TMT over the last few years,SaaS, mobile payments, Chinese tech, and privates, has contributed to their recent drawdowns.
As Jon notes, “what worked extremely well for the largest TMT-focused equity managers historically – betting big on tech companies, both public and private – is a big reason why they’re under-performing this year.” To put some more perspective around this, the PivotalPath Equity Sector Technology/Media/Telecom Index is down an estimated 8.8% for the first quarter.
Check out the full article below for more information on fund performance so far in 2022.