Balyasny Up In August As New Strategies Pay Off

With a low correlation to the S&P 500, Balyasny Asset Management had a positive August, up 1.92% and 2.61% in the Atlas Global and Atlas Enhanced funds respectively according to a letter to investors reviewed by ValueWalk. This comes against a backdrop where the S&P 500 was up just 0.05% on the month, a statistical outlier of low positive return for the index amid near-record dormant market volatility. It was the shorts that stepped up performance during the month along with new strategies that are beginning to show signs of life for Dmitry Balyasny’s $12.6 billion global hedge fund as the fund ramp-ed up hiring with two new portfolio managers.

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New strategies paying dividends for Balyasny in August

After more than doubling assets under management, Balyasny added people and expanded portfolio sleeves. That appeared to pay off in August.