Schonfeld, Balyasny, ExodusPoint Lag as Multi-Strats Falter
- Macro investing in particular has fallen behind this year
- Higher rates make lackluster performance look even weaker
This article is for subscribers only.
Some of the largest multi-strategy hedge funds are lagging this year, as they struggle to keep up with other firms and their own past performance.
The anemic returns for 2023 follow years of investors flocking to multi-manager, multi-strategy firms including Millennium Management, Balyasny Asset Management, ExodusPoint Capital Management and Schonfeld Strategic Advisors, looking for consistent returns regardless of market conditions.