Funds Of Hedge Funds Outperform Single-Manager Funds In July In July by Preqin
The hedge fund industry failed to gain pace in July, with average returns in the red for the second month in a row. The Preqin All-Strategies Hedge Fund benchmark was down 0.31% in July following returns of -0.87% in June. Funds of hedge funds, however, posted returns of 0.33% through July, driven by the strong performance of macro strategies-focused funds of hedge funds, which were up 1.74% for the month.
Michael Gelband’s Exodus Point launched in 2018 with $8.5 billion in assets. Expectations were high that the former Millennium Management executive would be able to take the skills he had learned at Izzy Englander’s hedge fund and replicate its performance, after a decade of running its fixed income business. The fund looks to be proving Read More