Unlimited Launches New “Hedge Fund Barometer” to Track Performance and Positioning of the Global Hedge Fund Industry
April 17 2024 - 8:15AM
Unlimited, an investment firm and ETF sponsor that uses proprietary
technology to provide low-cost alternative strategies to a wide
variety of investors, today announced the launch of “The Unlimited
Hedge Fund Barometer,” a new quarterly report and data analysis
tool that harnesses Unlimited’s technology to provide a near-real
time picture of where hedge funds are investing.
Unlimited’s Barometer uses powerful machine learning technology
and multiple data sources to track performance metrics for the
major hedge fund strategies. It also provides a near-real time view
into how hedge funds are positioned across major asset classes,
industry sectors and geographies.
“Our new Barometer aims to give market participants a more
comprehensive and current picture of the hedge fund industry,” said
Bob Elliott, CEO and CIO of Unlimited. “Until now, understanding
where the hedge fund world is currently invested has been limited
to manager intuition and quarterly 13F filings, both of which often
provide an inaccurate and incomplete picture.”
Unlimited Hedge Fund Barometer Q1 2024
Findings
According to Unlimited’s latest Barometer, hedge fund
performance was positive during the first quarter, as nearly all
strategies turned more bullish on U.S. stocks. To download the full
report, click here. Other highlights include:
- Average gross returns across all strategies were nearly
+6%.
- Managed futures strategies were the best performing with gross
returns of nearly +10%.
- Emerging Markets were the worst performing at +3.8%.
Based on the Hedge Fund Barometer’s latest analysis, heading
into the second quarter of 2024 hedge funds held long positions in
U.S. equities, particularly in cyclicals, while being neutral on
U.S. bonds in a bet that yields will continue to move higher. In
this quarter, hedge funds:
- Significantly increased their bets on U.S.
equities, with financials and
homebuilders experiencing the most bullish
sentiment.
- Became bullish on Japanese stocks with the
greatest net long positions in decades.
- Picked up some CMBS exposure
following significant price drops.
- Increased bullish bets on the U.S.
Dollar.
- Adopted neutral positions on gold relative to historical
positions.
- Were neutral on U.S. Bonds following the Fed
pivot in November 2023.
Click here to view a video on how Unlimited’s technology
works.
About UnlimitedFounded in 2022 by Bob Elliott,
Bruce McNevin and Matt Salzberg, Unlimited is an investment firm
using proprietary technology to create strategies that offer
lower-cost access to 2 & 20 style alternative investment
strategies, such as hedge funds, to a variety of investors. Mr.
Elliott has built innovative hedge fund strategies for more than
two decades, including at Bridgewater Associates, the world’s
largest hedge fund. Mr. McNevin is a Professor of Economics at New
York University and has held various data science positions at
hedge funds Clinton Group and Midway Group, along with positions at
Bank of America and BlackRock. Mr. Salzberg serves as a Managing
Partner at Material and is a Co-Founder and Board Director of
Unlimited. Learn more at unlimitedfunds.com.
Media Contacts:
Sarah Lazarus |
Zach Kouwe |
Dukas Linden Public
Relations |
Dukas Linden Public
Relations |
+1 617-335-7823 |
+1 551-655-4032 |
sarah@dlpr.com |
zkouwe@dlpr.com |
For informational and educational purposes only and should not
be construed as investment advice. The data shown herein represents
past performance and should not be construed as providing any
assurance or guarantee as to returns that may be realized in the
future. No representation is being made that any investment will or
is likely to achieve profits or losses similar to those shown
herein. No investment strategy or risk management technique can
guarantee return or eliminate risk in any market environment.