The previous 12 months have been very positive for fundamental investors, as these managers have been able to identify the winners and losers as a result of lockdowns. We continue to believe hedge fund managers will be able to take advantage of the volatility presented by a choppy recovery, policy change by a newly elected US government, and permanent disruption within sectors as a result of COVID-19.
This publication presents manager performance for 37 asset classes and substrategies, showing the median, mean, and key percentiles of return. Relevant indexes for each asset class are also included to provide market context.
No, we do not believe that is generally the case. While the recent wild ride of a few companies’ share prices was novel in that it was coordinated by retail investors on the social media platform Reddit, the short coverings that contributed to the price spikes were all too familiar to long-time investors.
While fourth quarter 2020 brought an end to one of the most tumultuous years in recent history, capital markets performed well and hedge funds generated strong returns.
This publication presents manager performance for 37 asset classes and substrategies, showing the median, mean, and key percentiles of return. Relevant indexes for each asset class are also included to provide market context.
The onset of the COVID-19 pandemic caused steep declines in risk markets in first quarter 2020. Safe-haven assets, such as core sovereign bonds and gold, performed strongly during this period and have held on to much of their gains. Large-scale intervention by both monetary and fiscal authorities eventually put a floor under risk markets, driving rapid recoveries and pushing equity markets to new highs.
This publication presents manager performance for 37 asset classes and substrategies, showing the median, mean, and key percentiles of return. Relevant indexes for each asset class are also included to provide market context.
This publication presents manager performance for 37 asset classes and substrategies, showing the median, mean, and key percentiles of return. Relevant indexes for each asset class are also included to provide market context.
In this quarter’s update, we discuss prospects for a coming wave of defaults and bankruptcies, as well as the potential opportunity set for credit-focused hedge fund managers.
While US-China tensions began to slowly de-escalate in the the first half of FY 2020, the arrival of the COVID-19 pandemic in the second half upended the investment landscape. Gold and US Treasuries were the big winners as investors rushed into safe havens, while central banks cut rates and expanded QE programs. Equities have mounted a remarkable comeback, while real assets generally remain quite depressed. This chart book presents returns and other market metrics for fiscal year 2020.