Weekly round - up

Fixed income strategies lead early 2024 hedge fund

According to reports, in the face of increasing geopolitical tensions, hedge funds sustained the positive momentum from the end of the previous year into the initial month of 2024. Performance data from HFR indicates that strategies centered around fixed income have been at the forefront, delivering notable returns during this period.

The HFRI Fund Weighted Composite Index (FWC) went up by about 0.28% in the month, and the HFRI 500 FWC Index increased by 0.24%. In January, the difference in performance between the best and worst performing hedge funds narrowed, with the top 10% gaining an average of 6.06%, while the bottom 10% lost an average of 6.75%. This resulted in a monthly performance gap of 12.81%.

Brevan Howard Rates Trader joins Goldman Sachs

Antonio Belgioioso has recently become a Rates Trader at Goldman Sachs, transitioning from his previous role as a Macro Rates Portfolio Manager at the global macro hedge fund firm Brevan Howard reports eFinancialcareers. Belgioioso's tenure at Brevan Howard began in 2020, and prior to that, he worked as a Bonds Trader at Société Générale, Deutsche Bank, and Mizuho.

This appointment at Goldman Sachs comes amid the departure of several members from the European rates team during the Christmas period. Notable exits include Pushkar Jha, who was Goldman's Head of Inflation Trading in London, Urvashi Chahal, a VP-level Rates Trader, and Shahil Ghelani, a European Rates Trader based in Paris. They are reported to have joined DE Shaw, Millennium, and Nomura, respectively.

Coatue MD to start new hedge fund?

Aaron Weiner, a Managing Director at Coatue Management, the $40 billion hedge fund founded by Philippe Laffont, is set to leave the firm by the end of the year to launch his own hedge fund, as reported by Bloomberg.

Coatue has already informed its investors about Weiner's upcoming departure. Currently based at the firm's New York office, Weiner oversees healthcare and tactical solutions and has played a key role in investments in companies such as Reify Health, Infinitus Systems, Cadence Solutions, DNA Script, and Entos.