eVestment's Top Hedge Funds In April 2020
Our monthly peek into the viewership activity by the institutional investor and advisor subscribers to the platform shows that Graham Capital's Quant Macro Portfolio was the most viewed hedge fund last month, the first time that it has topped the list and the first time it has appeared in the top three since September 2019. Perennial top ten inhabitant AQR DELTA Strategy was second and 1060 Capital Management's 1060 Capital Opportunity Fund was third.
Global: Most Viewed Alternatives Products April 2020 | ||
Most Viewed Product's Firm Name | Most Viewed Product | |
Graham Capital Management L.P | Graham Quant Macro Portfolio | |
AQR Capital Management LLC | DELTA Strategy | |
New | 1060 Capital Management | 1060 Capital Opportunity Fund, LP |
New | 400 Capital Management LLC | 400 Capital Credit Opportunities Fund |
New | Verition Fund Management | Verition Multi-Strategy Fund Composite |
New | Bridgewater Associates, LP | Bridgewater Pure Alpha Major Markets |
Renaissance Technologies LLC | Renaissance Institutional Equities Fund (RIEF) LLC | |
New | Putnam Investments | Putnam Multi-Asset Absolute Return Fund |
Autonomy Capital | Autonomy Master Fund Limited | |
New | Man Group | Man Alternative Risk Premia Strategies SP |
At the regional level, Graham Quant Macro was the most viewed product by Japan-based investors and advisors; AQR DELTA was the most viewed by U.S.-based investors and advisors; and Sirios Capital Management's Sirios Capital Partners II was the most viewed by U.K.-based investors and advisors. Other regional winners included CQS's ABS Fund, Bridgewater's Pure ALpha Major Markets Fund, and AIS Capital Management's Gold Strategy.
Regional: Most Viewed Alternatives Products April 2020 | |
Investor/Consultant Location | Most Viewed Products by Region |
Africa/Middle East | CQS: CQS ABS Fund |
Asia ex-Japan | AIS Capital Management, L.P.: Gold Strategy |
Europe ex-UK | Bridgewater Associates, LP: Bridgewater Pure Alpha Major Markets |
Japan | Graham Capital Management L.P: Graham Quant Macro Portfolio |
United Kingdom | Sirios Capital Management L.P.: Sirios Capital Partners II, L.P. |
United States | AQR Capital Management LLC: DELTA Strategy |
At the firm level, Bridgewater Associates came in first, Graham Capital Management came second - no doubt boosted by its Quant Macro program topping all products globally - and Man Group's Alternative Risk Premia Strategies came third.
Global: Most Viewed Alternatives Firms April 2020 | ||
Firm Name | Firm's Most Viewed Product | |
Bridgewater Associates, LP | Bridgewater Pure Alpha Major Markets | |
New | Graham Capital Management L.P | Graham Quant Macro Portfolio |
Man Group | Man Alternative Risk Premia Strategies SP | |
AQR Capital Management LLC | DELTA Strategy | |
New | PIMCO | PIMCO Tactical Opportunities Fund |
Renaissance Technologies LLC | Renaissance Institutional Equities Fund (RIEF) LLC | |
New | P/E Investments | FX Strategy Standard |
New | Waterfall Asset Management, LLC | Waterfall Victoria ERISA Fund, Ltd. |
New | Sculptor Capital Management, Inc. | Sculptor Credit Opportunities Master Fund, Ltd. |
BlackRock | Fixed Income GlobalAlpha Fund Ltd. |
Bridgewater also dominated the regional categories at the firm level.
Regional: Most Viewed Alternatives Firms April 2020 | |
Investor/Consultant Location | Most Viewed Firms by Region |
Africa/Middle East | Bridgewater Associates, LP |
Asia ex-Japan | Leadenhall Capital Partners LLP |
Europe ex-UK | Bridgewater Associates, LP |
Japan | Bridgewater Associates, LP |
United Kingdom | Graham Capital Management L.P |
United States | AQR Capital Management LLC |
Rising products - those with the biggest percentage gain versus the products' rolling 12 months average - was won by Graham Quant Macro, with Verition Fund Management's Multi-Strategy Fund Composite coming second and Putnam Investment's Multi-Asset Absolute Return Fund coming third.
Global: Rising Alternatives Products April 2020 vs. Prior 12 Months | ||
Rising Product's Firm Name | Rising Product | |
New | Graham Capital Management L.P | Graham Quant Macro Portfolio |
New | Verition Fund Management | Verition Multi-Strategy Fund Composite |
New | Putnam Investments | Putnam Multi-Asset Absolute Return Fund |
New | Waterfall Asset Management, LLC | Waterfall Victoria ERISA Fund, Ltd. |
New | Bridgewater Associates, LP | Bridgewater Pure Alpha Major Markets |
New | Sculptor Capital Management, Inc. | Sculptor Credit Opportunities Master Fund, Ltd. |
New | 400 Capital Management LLC | 400 Capital Credit Opportunities Fund |
New | Mariner Investment Group, LLC | Mariner Atlantic, Ltd. |
New | CoreCommodity Management | CoreCommodity Program - Founders I |
New | Massar Capital Management, LP | Massar Macro Commodity Strategy |
At the firm level, Bridgewater was the biggest riser, with Graham Capital Management second and PIMCO third.
Global: Rising Alternatives Universes April 2020 vs. Prior 12 Months | ||
eVestment Primary Universe | Universe's Rising Product | |
Macro - Multi-Strategy | Bridgewater Associates, LP: Bridgewater Pure Alpha Major Markets | |
New | Fundamental - Long/Short Credit | Elementum Advisors, LLC: Elementum NatCat Master Fund Ltd. |
Multi-Strategy Multi-Markets | Verition Fund Management: Verition Multi-Strategy Fund Composite | |
Macro - Discretionary | Massar Capital Management, LP: Massar Macro Commodity Strategy | |
Multi-Strategy Credit | Sculptor Capital Management, Inc.: Sculptor Credit Opportunities Master Fund, Ltd. | |
Event Driven - Multi-Strategy | Pentwater Capital Management: Pentwater Event Fund Ltd. | |
New | Relative Value - Multi-Market Arbitrage | JD Capital Management LLC: Tempo Volatility Master Fund |
Macro - Quantitative | Graham Capital Management L.P: Graham Quant Macro Portfolio | |
New | Event Driven - Distressed | Waterfall Asset Management, LLC: Waterfall Victoria ERISA Fund, Ltd. |
New | Fundamental - Long Only Credit | Angelo, Gordon & Co.: AG Real Estate Debt Investment Fund |
eVestment subscribers continue to look closely at fundamental equity long/short hedge funds, with that strategy the most viewed last month, closely followed by multi-strat multi-markets and fundamental long/short credit.
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