ValueWalk’s April 2021 Hedge Fund Update: Andurand Capital, SPAC Boom And MoreJacob Wolinsky
Welcome to our latest issue of issue of ValueWalk’s hedge fund update. Below subscribers can find an excerpt in text and the full issue in PDF format. Please send us your feedback!
Featuring Pierre Andurand's Andurand Capital Management riding the commodity rally; a momumental year for large hedge funds; and the announcement of SPAC funds by Corsair Capital, DG Value and Saba Capital.
A "Monumental" Year For Large Hedge Funds
Over the past decade, the hedge fund industry has attracted an increasing level of criticism. Critics have accused the industry of taking high fees from customers without producing marketbeating results.
Critics of the industry have stated that investors would have been better off buying low-cost index tracker funds rather than trying to navigate the complex and expensive world hedge funds over the past ten years.
That all changed in 2020. Last year was one of the most volatile years since 2009 for financial markets. Hedge funds thrive in these sorts of environments because they can act quickly to take advantage of market opportunities. Passive index funds cannot.
Industry performance figures show how well hedge funds performed last year.
Citco Fund Services’ “2020 Hedge Fund Report: A Year In Review” revealed that 77% of funds delivered a positive annual return last year. Citco, which provides asset servicing solutions to the hedge fund an alternative investment industry, has more than $1 trillion of assets under management, so it has an unrivaled understanding of hedge fund activity.
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