One of the hedge fund industry’s largest asset managers
ASW made its first hedge fund investment in 2017.
Today, we manage a total of over GBP100m in single hedge fund and multi-manager hedge fund strategies, under UCITS-compliant and offshore structures.
Our offering includes a range of commingled and tailor-made portfolios managed on an advisory or discretionary basis.
HEDGE FUND INVESTING
Specialists since 2017
GBP Million assets under
managers in our investment
invested hedge funds
Single hedge funds
Multi-manager hedge funds
Over the past few years, more and more investors have been attracted to unconstrained investing to complement conventional benchmarked strategies.
A leader in the EU and US hedge fund investment space, we offer all types of hedge fund options for all types of investors.
Hedge Fund flash report
Managers gain from a long exposure to precious metals and from a negative stance against the US dollar
July was a positive month for discretionary Global Macro managers.
In FX, a negative stance against the US dollar was a meaningful source of profits. A long exposure to precious metals also produced significant gains. In Credit, long US HY and IG credit via indices and long Europe periphery debt had a positive contribution, while yield curve steepeners in the US and hedges via equity indices detracted from performance. Emerging Markets focused managers generally outperformed. Majority of Systematic managers delivered positive returns in July. The performance was driven by long “rebuilt” equity exposure and continued strength among fixed income instruments, namely Europe.
Exposure to European stocks and contributes to alpha generation
Equity Hedge managers posted strong returns this month. In terms of alpha, investments in European stocks led the pack, Asian exposure came second with strong upside capture while US investments were broadly in-line with the market. Technology specialists performed especially well while Health Care specialists did not fare particularly well this month. The funds’ leverage across the board was high.
Relative Value continued to perform well. The significant tightening of high-yield spreads acted as a strong tailwind for Structured Credit and other credit-sensitive strategies. In contrast, Fixed Income managers delivered mixed results. Within Equity Volatility Arbitrage, long gamma positions were broadly flat whereas dispersion strategies incurred losses from single-stock volatility dropping faster than that of the index.
July was a positive month for Event Driven managers. Credit managers who deployed significant capital into IG credit saw the recovery trade fizzle out as the spreads already compressed significantly in Q2. Merger Arbitrage specialists continued to benefit from further spread compression. Within Activist and Special Situations, managers benefited from a general net long stance in a strong up-trending market.
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