Artificial Intelligence Drives Global Hedge Fund Gains in June: Report – News18

Global hedge funds posted positive aspects of two.2% in June, as synthetic intelligence-related shares surged and the banking disaster eased, information supplier HFR mentioned on Monday. In the primary half of the yr, hedge funds added 3.45% to their traders.

“Hedge funds surged in June, led by growth equity exposures and, specifically, artificial intelligence. While gains were driven by these dynamic exposures, industry performance was strong across-the-board,” mentioned Kenneth J. Heinz, president of HFR.

Equity hedge funds, which wager shares will fall or rise, posted the perfect efficiency amongst all 4 classes tracked by HFR, each in June and within the yr, with positive aspects of two.94% and 5.55%, respectively.

Still, fairness hedge funds lagged the S&P 500 index, which soared 16.9% within the first half of 2023.

Macro hedge funds ended June down 0.47% within the yr, as they had been in a position to erase some losses earlier within the yr final month, up 1.47%. Hedge funds that wager on financial traits had a difficult starting of the yr as they had been onerous hit by the banking disaster in March.

Event-driven hedge funds, which embody shareholder activism and people betting on M&As, rose 2.99% within the first half of the yr and a couple of.78% in June.

Relative worth methods, which commerce asset worth dispersion, ended June up 2.66% within the yr and 0.9% within the month.

(This story has been edited by News18 employees and is printed from a syndicated news company feed – Reuters)