Hedge Fund Beats Peers With Bets on Oil Tankers While Cutting AI
Shipping rates have risen significantly due to the Middle East conflict.
Photographer: Tim Rue/BloombergA Hong Kong hedge fund that outperformed peers says shipping stocks are a better trade than artificial intelligence, given the risks of tech companies overspending.
HD Capital Ltd.’s flagship fund allocated 11% of its portfolio in oil transport and 6.1% in shipbuilders as of April, making them its largest exposure. The $200 million multi-asset fund beat 97% of its peers this year and over a five-year period, based on industry data provider With Intelligence.