Research

  • Aurum

    Aurum's Quarterly Review - Q2 2019

    The Aurum portfolios continued to generate positive, uncorrelated returns for the second quarter of 2019 with Aurum’s flagship funds generating between +0.9% and +2.1%. Multi-strategy funds and equity long/short continued to perform strongly, whilst the performance of macro and systematic strategies were mixed.
  • Aglaya Nickolova

    Caveat Emptor: Hedge Funds' use of Alternative Data

    Aglaya Nickolova, Senior Analyst looks into the increasing use of alternative data by hedge funds and sets out nine key areas of consideration for managers using alternative data in their investment process and for investors conducting due diligence on such managers.
  • David Goldin

    Elephant in the room? Size and hedge fund performance

    Do hedge funds suffer from diseconomies of scale? David Goldin, Senior Analyst at hedge fund specialist Aurum Research Limited, digs into Aurum’s proprietary database to investigate.
  • Niklas Torriani

    Hedge Fund Investment Strategy Update 2019 – Global Macro

    Global Macro: A key question that allocators should be asking is whether they are underweight global macro in their portfolios. If so, is that under-allocation justified given the current stage in the economic cycle and expectations for future market volatility? Niklas Torriani takes an in depth look.
  • Aurum

    Aurum's Quarterly Review - Q1 2019

    The last six months is a stark reminder of how quickly investor sentiment can change from both a risk-off and risk-on perspective. All of the Aurum portfolios made a positive start to the year, returning  between +2.0% and +3.7% in Q1, with the exception of a fund that launched in February 2019. Multi-strategy, equity long/short funds and systematic strategies performed well, while macro performance was mixed.
  • Adam Moir

    Unrestricted share classes: What does it mean to get an IPO allocation?

    2018 was the busiest year, both by number and volume, for initial public offerings (“IPOs”) in the US since 2014. Several of the Aurum funds have unrestricted share classes, which provide eligible investors with an exposure to new issues. In 2018, IPO P&L led to an outperformance of nearly 1% on some of the Aurum funds’ unrestricted share classes, compared to the equivalent restricted classes.
  • Kevin Gundle

    NEdge Funds and the Beta Test of Alpha

    The challenge facing hedge fund investors today is identifying whether the real return that they are seeking is likely to be delivered. Unfortunately, many may be disappointed. When is a hedge fund not a hedge fund? Kevin Gundle discusses funds that may be structured in the same way as hedge funds, but have an investment style that is unlikely to reliably meet investor expectations.
  • Aurum

    Aurum's Quarterly Review - Q4 2018

    In a year that saw a notable shift in sentiment, the final quarter was particularly tumultuous for risk assets across all classes and most geographies. Whilst the Aurum multi-manager portfolios were not completely immune to these market gyrations, all finished the year between -0.03% and +4.3%.
  • Anthony Pratt

    Far from the Manhattan Crowd 2

    Could crowdsourced trading platforms be a research route that is changing the way that some hedge funds look at PR, branding, and their global reach? Could the traditional hedge fund job markets in London and New York begin to lose out to online outsourced workers?
  • Anthony Pratt

    Far from the Manhattan Crowd

    In Far from the Manhattan Crowd, Anthony Pratt looks at crowdsourced trading signal platforms, which hedge funds are using them and the impact they are having. Do technological developments, combined with new social and academic thinking in the world of behavioural economics, have the potential to provide access to previously unavailable opportunities in the hedge fund world to a wider pool of talent?
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