Stock Market
Hedge funds score double-digit returns in 2024
- 2024 returns range from almost 10% to over 50%
- Equity performance adds to returns, energy detracted, sources say
Some of the world’s largest hedge funds finished 2024 with comfortable double-digit returns, benefiting from chaotic markets, central bank policy changes and a tight U.S. presidential election race.
Hedge funds in 2024 averaged a 10.7% return in the year through November, according to PivotalPath, versus 5.7% in the same period in 2023. But some portfolio managers scored gains above 50% for the full last year.
Light Street Capital’s long/short fund focused on technology ended 2024 up 59.4%. Overall, long/short hedge funds had their best year since 2020, Goldman Sachs said.
Macro hedge fund Discovery Capital ended 2024 up 52% after gains across equities, currencies, rates and credit, a source familiar with the performance said, with trades in both emerging and developed countries.
Also on the macro side, Bridgewater Associates’ flagship Pure Alpha 18% volatility fund gained just over 11% in 2024 through Dec. 27, a source familiar with the matter said on Thursday.
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