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Equities hedge funds outperform in 2021 despite volatility and retail surge

By Maiya Keidan TORONTO (Reuters) - Stock-picking hedge funds globally outperformed the broader sector with double-digit returns in 2021, despite a year beset by volatility and a...
Equities hedge funds outperform in 2021 despite volatility and retail surge © Reuters. FILE PHOTO: "Stock Exchange" is seen over an entrance to the New York Stock Exchange (NYSE) on Wall St. in New York City, U.S., March 29, 2021. REUTERS/Brendan McDermid/File Photo

By Maiya Keidan

TORONTO (Reuters) - Stock-picking hedge funds globally outperformed the broader sector with double-digit returns in 2021, despite a year beset by volatility and a new force of unpredictable retail traders flooding into the market to support "meme stocks."

On average, equities hedge funds made gains of 12.3% in 2021, compared with 10% for peers more generally, according to data from industry tracker eVestment.

Last year, thousands of retail investors congregated on social media websites to share information on stocks and short-sellers, making the stock-picking process much more hazardous.

"There were just so many different pot holes that managers could have fallen in to," said Darren Wolf, global head of Investments, Alternative Investment Strategies at Aberdeen.

"In long-short equity land, you had to deal with a whole bunch of issues throughout the year, starting with the meme short squeezes in January and that had implications throughout the rest of the year."

Wolf said long-short hedge fund managers navigated last year by reducing their gross exposure and single-name shorts - bets that a stock will fall - and moving into exchange-traded funds (ETFs) as a substitute for those bets.

For Toronto-based $1.5 billion long-short firm Anson Funds, which made 45.5% in its main $950 million hedge fund in 2021, adjusting for retail investors has become crucial to trading.

"People have always had this assumption that retail traders aren't a market force, but retail became more active recently,” Moez Kassam, chief investment officer at the Anson Investments Master Fund, told Reuters.

"This is the new investor crowd and it's here to stay."

Hedge funds also faced several bursts of volatility where markets took a shock tumble, such as during the sudden emergence of the Omicron variant in November.

Some equities hedge funds, like $2.7 billion UK-based Gladstone Capital (NASDAQ:GLAD) Management, benefited from investments in global TMT, consumer and financial sectors in 2021.

Gladstone made 7% in 2021, and 20.4% over five years, a source with knowledge of the matter told Reuters.

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17-01-2022 12:01:30 (UTC+7)

EUR/USD

1.1409

-0.0004 (-0.04%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

EUR/USD

1.1409

-0.0004 (-0.04%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

GBP/USD

1.3652

-0.0021 (-0.15%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (5)

Sell (0)

USD/JPY

114.57

+0.37 (+0.32%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

AUD/USD

0.7211

+0.0005 (+0.07%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

Sell (5)

USD/CAD

1.2511

-0.0043 (-0.34%)

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↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (9)

EUR/JPY

130.72

+0.37 (+0.28%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

EUR/CHF

1.0424

-0.0005 (-0.05%)

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↑ Buy

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Buy (10)

Sell (2)

Indicators:

Buy (3)

Sell (2)

Gold Futures

1,819.15

+2.65 (+0.15%)

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Buy (12)

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Indicators:

Buy (7)

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Silver Futures

23.038

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Copper Futures

4.4277

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Crude Oil WTI Futures

83.69

+0.39 (+0.47%)

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Brent Oil Futures

86.43

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Natural Gas Futures

4.263

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Buy (0)

Sell (11)

US Coffee C Futures

239.65

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Buy (5)

Sell (3)

Euro Stoxx 50

4,302.14

+29.95 (+0.70%)

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↑ Sell

Moving Avg:

Buy (1)

Sell (11)

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Buy (0)

Sell (8)

S&P 500

4,662.85

+3.82 (+0.08%)

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↑ Buy

Moving Avg:

Buy (9)

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Indicators:

Buy (7)

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DAX

15,933.72

+50.48 (+0.32%)

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Sell (7)

FTSE 100

7,611.78

+68.83 (+0.91%)

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↑ Buy

Moving Avg:

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Indicators:

Buy (8)

Sell (2)

Hang Seng

24,218.03

-165.29 (-0.68%)

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↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

2,161.90

+0.42 (+0.02%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (7)

IBEX 35

8,838.70

+32.10 (+0.36%)

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↑ Sell

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Sell (12)

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Buy (0)

Sell (10)

BASF SE NA O.N.

68.140

+0.030 (+0.04%)

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Neutral

Moving Avg:

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Bayer AG NA

52.82

+0.23 (+0.44%)

Summary

↑ Buy

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Allianz SE VNA O.N.

227.05

+0.05 (+0.02%)

Summary

↑ Buy

Moving Avg:

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Buy (10)

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Adidas AG

252.65

+0.30 (+0.12%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (10)

Sell (0)

Deutsche Lufthansa AG

7.241

0.000 (0%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

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Siemens AG Class N

146.00

+0.14 (+0.10%)

Summary

Neutral

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Deutsche Bank AG

12.018

+0.064 (+0.54%)

Summary

↑ Buy

Moving Avg:

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Indicators:

Buy (10)

Sell (1)

 EUR/USD1.1409↑ Buy
 GBP/USD1.3652↑ Buy
 USD/JPY114.57↑ Sell
 AUD/USD0.7211↑ Sell
 USD/CAD1.2511↑ Sell
 EUR/JPY130.72↑ Buy
 EUR/CHF1.0424↑ Buy
 Gold1,819.15↑ Buy
 Silver23.038↑ Buy
 Copper4.4277Neutral
 Crude Oil WTI83.69↑ Buy
 Brent Oil86.43↑ Buy
 Natural Gas4.263↑ Sell
 US Coffee C239.65↑ Buy
 Euro Stoxx 504,302.14↑ Sell
 S&P 5004,662.85↑ Buy
 DAX15,933.72↑ Sell
 FTSE 1007,611.78↑ Buy
 Hang Seng24,218.03↑ Buy
 Small Cap 20002,161.90↑ Sell
 IBEX 358,838.70↑ Sell
 BASF68.140Neutral
 Bayer52.82↑ Buy
 Allianz227.05↑ Buy
 Adidas252.65↑ Buy
 Lufthansa7.241↑ Sell
 Siemens AG146.00Neutral
 Deutsche Bank AG12.018↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,120/ 6,160
(0/ 0) # 1,148
SJC HCM6,110/ 6,170
(0/ 0) # 1,158
SJC Hanoi6,110/ 6,172
(0/ 0) # 1,160
SJC Danang6,110/ 6,172
(0/ 0) # 1,160
SJC Nhatrang6,110/ 6,172
(0/ 0) # 1,160
SJC Cantho6,110/ 6,172
(0/ 0) # 1,160
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USD22.540,0022.850,00
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GBP30.246,4531.537,99
JPY192,66203,94
KRW16,5020,10
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