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Schonfeld's flagship hedge fund ends H1 up 10.3% - source
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Schonfeld's flagship hedge fund ends H1 up 10.3% - source
Jul 1, 2024 10:38 AM

NEW YORK (Reuters) - Hedge fund Schonfeld Strategic Advisors' flagship fund Strategic Partners ended the first half of the year up 10.3%, driven by positive performance across different strategies and after posting a gain of 1.9% last month, a source familiar with the matter said.

Quantitative equities, tactical trading, global macro, relative value and credit were among the most important investment strategies so far this year, this person said.

Schonfeld's Fundamental Equity fund went up 11% in the first half of the year and 2.6% in June, the source added.

Hedge funds are starting to disclose to clients their performance in the first half of year, a period of strong performance for global markets.

The MSCI's 47-country world stock index rose roughly 11% since January, while the S&P 500 soared 15% in the first half of the year, mainly booted by megacap stocks such as Nvidia ( NVDA ).

For Schonfeld, technology, industrials and healthcare were the main sector contributors to performance in equities, while in terms of geography, Asia was the main highlight.

Schonfeld's results come after a more lukewarm performance in 2023, when its flagship fund finished up 3%.

After reducing its headcount last year, the hedge fund has added 40 investment professionals in 2024, including eight portfolio managers, the source said.

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