Cathie Wood’s Popular Touch Deserts Her in ARK Flows, Venture Fund (Bloomberg)
There was a time when investors would send money into Cathie Wood’s funds even when they were struggling. This year, even as ARK Investment Management roars back, the flows are notable by their absence. All but one US-listed ARK exchange-traded fund, the flagship ARK Innovation Fund (ticker ARKK), have seen outflows in 2023, despite the fact that most funds have at least matched — and in some cases trounced — the performance of the S&P 500 Index, according to data compiled by Bloomberg.
2 Growth Stocks Ken Griffin (the Most Profitable Hedge Fund Manager Ever) Is Buying in a Nasdaq Bear Market (The Motley Fool)
Ken Griffin has been buying shares of Apple and Tesla throughout the past year. Last year, many investors saw their portfolios decline in value as the Nasdaq Composite tumbled into a bear market, but Ken Griffin navigated the volatility without trouble. His hedge fund, Citadel, reported a record-breaking $16 billion profit. That tops John Paulson’s $15 billion profit in 2007, when he correctly bet against subprime mortgages in what has been called “the greatest trade ever.”
Balyasny Built These 4 Cloud-Based Tools That are Critical in the $19.5 Billion Hedge Fund’s Push into New Trading Strategies (Business Insider)
Balyasny Asset Management is a multi-strategy hedge fund that has used the cloud since 2017. The firm uses Amazon Web Services and Microsoft Azure to handle most of its tech infrastructure. The firm’s chief information officer and chief data officer detail 4 tools it built on the cloud. Balyasny Asset Management is deploying an arsenal of secret weapons that the $19.5 billion hedge fund has been building on the public cloud. With about 75% of the firm’s tech infrastructure sitting on Amazon Web Services and Microsoft Azure, the Chicago-based firm’s tech division has stayed busy putting the cloud-based tools and services of Big Tech to work.
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Month in Review – March 2023 (Hedge Nordic)
Stockholm (HedgeNordic) – After a strong first two months of the year, Nordic hedge funds ended the month of March down 1.2 percent on average (96 percent reported). Nordic CTAs struggled the most last month, as many trend-followers were wrong-footed amid the wild bond market gyrations caused by the collapse of Silicon Valley Bank and Signature Bank. Four of the five strategy categories within the Nordic Hedge Index ended March in negative territory, with diversified (formerly multi-strategy) funds managing to edge up 0.1 percent.
Tiger Funds Are Shrinking (Institutional Investor)
The five largest funds with ties to Tiger Management lost more than $80 billion in AUM last year. The Tiger Kingdom is roaring a little softer after last year’s performance woes. Most of the Tiger Cubs and other descendants of Tiger Management — the hedge fund founded by the late Julian Robertson, Jr. — reported huge declines in their assets under management…
