The biggest hedge funds are off to one of their best starts to a year, aided by stocks and quantitative investing, while those focused on macro trading are lagging behind their peers.
While tech-focused equity hedge funds Light Street Capital Management and Whale Rock Capital Management lead the pack, large multimanager funds such as Citadel, Schonfeld Strategic Advisors and Point72 Asset Management posted gains of up to 13.7%, according to people with knowledge of the matter, well ahead of the risk-free rate. A PivotalPath index tracking mutlistrategy funds was up almost 6% during the first half of the year, the second-best for the period in 15 years.