Billionaire Ken Griffin’s Citadel is Outpacing Other Multi-Strategy Hedge Funds. Here’s How These Funds Did in August. (Business Insider)
Citadel forged ahead in August with a 3.74% gain, lifting the year-to-date performance on its flagship Wellington fund to 25.8% and surpassing returns at rivals like Millennium, DE Shaw, and Balyasny, according to investor figures seen by Insider. Citadel’s gain came even as U.S. stocks slumped in August. The benchmark S&P 500 dropped 4.24% last month, bringing its year-to-date return to a decline of 17%.
London-Based Swede Gains 50% Amid Energy Market Turmoil (Hedge Nordic)
Stockholm (HedgeNordic) – Northlander Commodity Advisors LLP’s flagship commodity-focused strategy, run by Swedish chief investment officer Ulf Ek out of London, has advanced 50 percent this year as Europe is facing an unprecedented energy crisis. The $423 million strategy, which has an emphasis on European power, European gas, European emissions and international coal markets, booked a monthly gain of 11 percent in August after capitalizing on swings in natural gas and power prices, according to a letter to investors seen by Bloomberg.
Graham Capital’s Tropin Says No More Easy Money by Tracking Stocks (Reuters)
LONDON, Sept 5 (Reuters) – Kenneth Tropin, founder of the $18 billion hedge fund Graham Capital Management, said heightened economic uncertainty will make it harder to make money by tracking big stock indices. A regime change awaits hedge funds that is likely to last, Tropin, who has spearheaded Graham Capital for the last 29 years, told Reuters late last week. Tropin’s portfolios are focused on “macro” trading, a strategy that uses economic and political views to find buy and sell signals in bonds, currencies and commodities.
Ironshield Capital launches UCITS long/short high yield credit fund Ironshield High Yield Alpha Fund (Hedge Week)
Ironshield Capital (Ironshield), a London-based European credit hedge fund manager, has launched the Ironshield High Yield Alpha Fund, a UCITS compliant Fund which will actively manage a diversified portfolio of long and short corporate credit positions. Overall net exposure is hedged with the fund targeting absolute returns in any market conditions. The fund offers daily liquidity to investors. Florian Chapel has joined the Ironshield investment team to manage the Fund alongside David Nazar. Chapel brings a strong track record in long/short corporate credit and credit derivatives. He previously managed market neutral portfolios at Pamplona Capital and Palm Lane Capital, before which he worked at Chenavari. Nazar is Ironshield’s CIO and founder and one of the most experienced investors in European credit with 25 years’ experience since launching Ironshield in 2007 and previously running proprietary credit portfolios at Deutsche Bank and Bank of America.
Former Glen Point CEO Departs Hedge Fund Commonwealth After Neil Phillips’s Arrest (Bloomberg)
Hopewell Wood, the former chief executive officer of Glen Point Capital, has left hedge fund Commonwealth Asset Management, the latest in a string of departures across the industry following the arrest of Glen Point co-founder Neil Phillips. “As of Sept. 6 she is no longer part of the firm and our entire management team remains focused on all facets of our firm’s operations,” Adam Fisher, founder of Commonwealth, told Bloomberg. Wood didn’t immediately return a call requesting comment.