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...The fund’s performance in 2023 compares with a 24.2 per cent rise in the S&P 500 index and the FTSE 100’s 3.8 per cent gain....
...But perhaps more importantly — given that most L/S funds actually have a clear long bias — its “Hedge Fund VIP” index of the chunkiest long positions has performed strongly....
...Year-to-date things are looking only slightly better, with US equity long/short hedge funds trailing the S&P 500’s continued surge by about one percentage point. That’s all fine....
...The $2.7bn Global X Robotics & Artificial Intelligence ETF (BOTZ), the largest fund with AI in its name in the US, has pulled in $672mn since the start of 2023, according to data from VettaFi, a consultancy...
...Back in 2019, my colleague Oliver asked Buffett if he should put Berkshire or an S&P tracker fund into his young son’s college fund....
...US equity funds drew $56bn of funds in the week to March 13 — more than the previous peak of $53bn set in March 2021, Barclays said on Friday, citing data from fund tracker EPFR Global....
...(Alphaville believes that using L’Oréal as an O is cheating, even if it makes your acronym look nicer.)...
...The data suggests Europe is experiencing a similar phenomenon to the US, where fund managers are increasingly concerned about the narrowness of a rally led by tech companies such as Nvidia, which surged...
...Sixth Street, one of the largest private lenders globally, and existing investor US private equity group Silver Lake, are leading the group....
...When l told my wife, she asked if I’d lost the house (which we owned outright). l said, no, even l was not that stupid. She then laughed and said that it ‘doesn’t really matter much then’....
...In another test, S&P looked at US mutual funds....
...There are dozens of these funds in the US but at the moment only one in the UK, again from Global X, called the S&P 500 Annual Buffer UCITS ETF (ticker SPAB)....
...It’s a fun fact that one of the best performing investors in the world is the S&P 500 index committee. Over the past 20 years, their picks have now beaten 97 per cent of all US equity funds....
...S&P 500 dividend yields went as high as 9.2 per cent in the first quarter of 1938, according to S&P Dow Jones Indices. Even IPOs paid them, as I read to my surprise in Peris’s book....
...The $483bn SPDR S&P 500 ETF Trust (SPY) had inflows equivalent to 14.9 per cent of its starting assets, the $397bn iShares Core S&P 500 ETF (IVV) 13.2 per cent and the $367bn Vanguard S&P 500 ETF (VOO) 16.4...
...About two-thirds of those polled for Bank of America’s latest global fund manager survey do not expect a US recession over the next 12 months — up from just over 10 per cent at the start of 2023....
...100 down 5.2% and the S&P 500 down 4.3%....
...The assets of US-domiciled passive funds quadrupled from $2.6tn at the end of 2012 to $10.9tn a decade later, according to data from the Investment Company Institute....
...The hedge fund manager getting all the attention, of course, is Nelson Peltz, the octogenarian co-founder of Trian Fund Management....
...“PE compensation is predominantly derived from the P&L of the firm — which is based on the management fee of the fund, and this is locked in for the life of the fund,” said Tom Thackeray, a partner at Heidrick...
...The most popular funds, those tracking the S&P 500, the total US stock market and the Bloomberg Aggregate Bond index, cost an average of just 0.03 per cent per year....
...Meta, Facebook’s parent company, spent the most of any S&P 500 company for a chief executive’s personal air travel that year, reporting $2.3mn on private flights for Mark Zuckerberg....
...Interest in active ETFs in the US has also hit record levels, accounting for 48.2 per cent of all ETF buying in January, according to Morningstar....
...US billionaire Bill Ackman’s hedge fund Pershing Square rejoined the top 20 hedge funds after leaving the rankings in 2015. It was up 27 per cent in 2023, making $3.5bn....
...Biotech companies are rushing to raise money in US equity markets at the fastest rate since the peak of the mid-pandemic market boom....
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