NEW YORK, Jan 10 (Reuters) – Some hedge funds that wager on macroeconomic tendencies boasted eye-popping double and even triple digit features for 2022, traders mentioned, whereas different outstanding companies that had been lengthy on know-how shares bought clobbered with deep losses in unstable markets.
Rokos Capital, run by Chris Rokos and one among a handful of so-called world macro companies, gained 51% final yr. Brevan Howard Asset Administration, the agency Rokos as soon as labored for, posted a acquire of 20.14% and Caxton Associates returned 16.73%, traders within the funds mentioned this week, asking to not be recognized.
Haidar Capital Administration’s Haidar Jupiter Fund surged 193%, an investor mentioned.
Many macro managers sidestepped tumbling fairness markets rocked by fast-paced rate of interest hikes and geopolitical turmoil together with the battle in Ukraine to rank among the many hedge fund business’s greatest performers, knowledge from Hedge Fund Analysis present. The agency’s macro index gained 14.2% whereas the general hedge fund index dropped 4.25%, its first loss since 2018.
Fairness hedge funds, the place the majority of the business’s roughly $3.7 trillion in property are invested, nevertheless fared worse with a ten.4% loss, in response to HFR knowledge. Whereas that beat the broader inventory market S&P 500 index’ 19.4% loss, some outstanding funds posted even greater losses.
Tiger International Administration misplaced 56% whereas Whale Rock Capital Administration ended the yr with a 43% loss and Maverick Capital misplaced 23%. Coatue Administration ended 2022 with a 19% loss.
However not all companies that wager on know-how shares suffered. John Thaler’s JAT Capital ended the yr with a 3.7% acquire after charges following a 33% acquire in 2021 and a 46% acquire in 2020.
Sculptor Capital Administration, the place founder Dan Och had battled the agency’s present chief govt in court docket over his rising pay, posted a 13% drop. Sculptor introduced in November that its board had shaped a particular committee to discover potential curiosity from third events.
David Einhorn’s Greenlight Capital, which wager that Elon Musk could be compelled to purchase Twitter, ended the yr with a 37% acquire whereas Rick Sandler’s Eminence Capital was up 7%. Axon Capital, the place founder Dinakar Singh wager service firm shares linked to journey and leisure would acquire in 2021 after the COVID lockdown, gained 15% in 2022 after a 24% acquire in 2021.
Numerous so-called multi-manager companies the place groups of portfolio managers make bets on a wide range of sectors additionally boasted optimistic returns and had been in a position to make good on guarantees that hedge funds can ship higher returns in tumbling markets.
Balyasny’s Atlas Enhanced fund gained 9.7% whereas Point72 Asset Administration was up 10%. Millennium Administration gained 12% whereas Carlson Capital ended the yr with a 7% acquire.
Representatives for the companies both didn’t reply to requests for remark or declined to remark.
Reporting by Svea Herbst-Bayliss with further reporting by Carolina Mandl; Enhancing by David Gregorio
: .
