Artificial Intelligence Drives Global Hedge Fund Gains in June: Report – News18

Global hedge funds posted beneficial properties of two.2% in June, as synthetic intelligence-related shares surged and the banking disaster eased, knowledge supplier HFR mentioned on Monday. In the primary half of the yr, hedge funds added 3.45% to their traders.

“Hedge funds surged in June, led by growth equity exposures and, specifically, artificial intelligence. While gains were driven by these dynamic exposures, industry performance was strong across-the-board,” mentioned Kenneth J. Heinz, president of HFR.

Equity hedge funds, which guess shares will fall or rise, posted one of the best efficiency amongst all 4 classes tracked by HFR, each in June and within the yr, with beneficial properties of two.94% and 5.55%, respectively.

Still, fairness hedge funds lagged the S&P 500 index, which soared 16.9% within the first half of 2023.

Macro hedge funds ended June down 0.47% within the yr, as they have been capable of erase some losses earlier within the yr final month, up 1.47%. Hedge funds that guess on financial traits had a difficult starting of the yr as they have been laborious hit by the banking disaster in March.

Event-driven hedge funds, which embrace shareholder activism and people betting on M&As, rose 2.99% within the first half of the yr and a couple of.78% in June.

Relative worth methods, which commerce asset value dispersion, ended June up 2.66% within the yr and 0.9% within the month.

(This story has not been edited by News18 employees and is revealed from a syndicated news company feed – Reuters)