Tiger Global’s 20-Year Run in China Hits Snag on Crackdowns (Bloomberg)
After making a fortune in China for two decades, Tiger Global Management is taking a hit from the nation’s unexpectedly widespread regulatory crackdown. Chase Coleman’s $65 billion firm, at least by one measure, leads U.S. hedge fund peers with exposure to the country and has seen some of its biggest stakes plunge during this week’s selloff in Chinese stocks.
Credit Suisse Investigation into Archegos Scandal Reveals Multiple Failings But No ‘Fraudulent or Illegal Conduct’ (CNBC)
LONDON — An investigation into Credit Suisse’s dealings with the collapsed U.S. hedge fund Archegos Capital revealed Thursday that the Swiss bank had failed “to effectively manage risk.” The Archegos saga dominated the business headlines in March, with Credit Suisse being the worst hit out of several international banks involved.
Future Fund: Bigger Team, More Opportunity to Go Direct (Preqin)
With Australia’s sovereign wealth fund looking to substantially increase its investment headcount in the search for alpha, could more direct & co-investment opportunities be on the horizon? There may have been a general drop in direct & co-investment deal activity in Australia since 2018, but the competition for alpha could be about to change that. The formidable Future Fund, Australia’s sovereign wealth fund (SWF), hit a peak of AUD 179bn in assets under management (AUM) as of March 2021.
UK Consultant Sees Significant Upswing in ‘First Time’ Hedge Fund Investors (Hedge Week)
Hedge funds are attracting greater numbers of ‘first-time’ allocators, with “unusual amounts” of fresh investors showing an interest in the space, according to London-based investment consultant, bfinance. New interest has been growing since Q4 2020, accompanied by an increase in activity from clients with existing hedge fund portfolios. Toby Goodworth, Head of Risk & Diversifying Strategies at bfinance, commented that prior to the end of 2020, the focus of his team was more on absolute return multi-assets than hedge funds, but following Q4 2020, “it was almost like a light switch turned on, and interest has been very solid ever since.”
These Are The Top Performing Hedge Fund Strategies In 2021 (Entrepreneur)
After a robust performance in the second half of last year, the Hedge Funds industry continued its strong run in the first half of this year as well. The industry gave an average return of 5.7% YTD (till June), after gaining almost 9% in 2020. In the last twelve months, the hedge funds have given a return of more than 18%, compared to more than 2.4% by bonds and over 38% by equities, as per the data by Aurum. Different hedge funds follow different strategies to earn a return for their investors, and as usual, some strategies performed better than others. Let’s take a look at the top performing hedge fund strategies in 2021 so far.
