Is machine learning beginning to take centre stage?
Off the back of a great 2018 performance, Voleon Group a hedge fund popularly known for using a machine learning strategy, returned 7% in 2019, a further rise from 2018 where the Voleon’s investors fund gained 14%.
Voleon Group operate out of Berkley California and manage $6.5B.
The founders of the Voleon Group previously worked at D.E. Shaw before co-founding the AI driven fund.
The machine learning hedge fund came into the spotlight in 2018 when many of their competitors fell victim to the global market confusion that saw the S&P 500 index drop 6.2%.
Without getting too carried away, the 7% returned in 2019 coincides with a 9.2% gain for hedge funds overall.
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