Hedge fund Exodus Point quarter-end performance lifted by basis trade, letter says

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Subject of emergency alert message arrested - May 2, 2024 | SaltWire #dartmouth #update #suspectLONDON - Hedge fund Exodus Point was up about 2% for the year to the end of March, according to a letter it sent to investors, benefiting from a bond market basis-trade that has regulators worried about financial stability risks.

Multi-strategy hedge funds have had a positive start to 2024, with Exodus Point multi-manager peers like Schonfeld posting a 6.2% performance in its flagship fund and its larger competitor Citadel, with a 5.75% return in its flagship Wellington fund, Reuters reported on April 4. Emerging market and trades based off of macro economic drivers contributed the most to the positive performance. This included currency trading in Asia and Latin America, as well as commodities trades in metals and energy, the letter also showed.

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