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How Coronavirus is impacting the hedge fund industry

Millions sent home as 3 hedge funds still manage to outperform market sell-off


How Coronavirus is impacting the hedge fund industry

As the coronavirus wreaks havoc on the market, 3 hedge funds have managed to outperform the S&P 500 during the February sell-off.

During a mixed bag February, which saw record highs at the midway point and correction territory by the end, the majority of funds were caught off guard.

Performance

Ray Dalio’s Pure Alpha II & Christopher Hohn’s Children’s Investment Fund both performed similarly to the S&P 500.
However, 3 hedge funds managed to come out of February relatively unscathed;

  • Odey European – Down 0.9%
  • Citadel – Up 1%
  • Kepos Capital – Up 5.6%

Lansdowne partners were especially hit hard. Their bets on airlines naturally created losses after the coronavirus decimated travel plans on a global scale.

Lansdowne claimed that large airlines were massively undervalued and presented an attractive medium-term investment.

Travel

With HSBC in Canary Wharf evacuating their offices after a member of staff was diagnosed on Thursday, many believe the disruptions will only continue.

In order to combat this, many companies are going to extreme lengths. Greg Coffey of Kirkoswald Asset Management has banned staff from public transport.

He claimed he would be happy to pay all staff travel costs using taxi’s to and from their offices.


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