By Nell Mackenzie
LONDON (Reuters) – Global stock and currency markets helped European hedge funds finish November with positive results, as markets surged on a U.S. election win for Donald Trump and the Republicans, performance numbers seen by Reuters on Wednesday showed.
These performance details included some hedge funds that profited from so-called Trump trades which punished tariff-sensitive assets from European exporters to Mexico’s peso and drove investment towards U.S. stocks and the dollar.
Sharp moves globally in currencies and stocks helped the $700 million Paris-based Metori Capital Management to an estimated month-end performance of 4.6% for November in its Metori Epsilon Diversified fund, taking the 2024 return up to 13.4%, said a source familiar with the fund’s performance.
British hedge fund Marshall Wace posted a 2.8% return in its Eureka fund and is up almost 14.5% on the year. The $69 billion hedge fund’s Market Neutral Tops fund, meanwhile, returned 1.75% in November contributing to a 21.49% year return, said a separate source with knowledge of the fund’s performance.
The $13 billion Winton Capital returned 0.3% in its multi-strategy fund adding to an 8.8% performance for 2024.
In its Diversified Macro fund, November’s return came in at 0.2% to add to a 2.9% performance for the year, a third source said.
Returns for Capital Fund Management’s funds ranged from just over 8% in the CFM Stratus Fund to 18.88% in the $15.5 billion hedge funds’ IS Trends fund, said a fourth source.
Global hedge fund performance came in at 1.4% for the month of November following two months of flat returns, said a JPMorgan prime brokerage note on Tuesday, seen by Reuters on Wednesday.
Stock trading hedge funds globally both posted around a 2% return, helped by investments in North American stocks, it said.
(Reporting by Nell Mackenzie; Editing by Dhara Ranasinghe and Catherine Evans)
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