More than 70 percent of hedge funds tracked by eVestment
made money in the first quarter. However, this percentage
slipped to 60 percent in March. Even so, this is still higher
than the prior two-year average of 56 percent, according to a
new monthly report from the hedge fund data scorekeeper.
Altogether, hedge funds in its database rose by 0.33 percent in
March and 2.63 percent in the first quarter, on average. They
are up 8.48 percent over the trailing 12-month period.
Interestingly, in March distressed hedge funds suffered only
their first loss in 14 months.
London-based macro fund firm Gemsstock is looking to raise
$400 million, according to
Reuters. If successful, this would bring total assets to
about $1.2 billion. It had previously closed to new investors
in June 2016. Gemsstock was up by double-digits in four of the
past five years, including 12.4 percent in 2015 and 19.9
percent in 2016. It gained 3.7 percent in the first two months
of this year.
Credit Suisse raised its price target on Whole Foods from
$36 to $40, one day after activist hedge fund firm
JANA Partners and other individuals teamed up to take an
8.8 percent stake in the high-end grocery chain.
"The potential for activist involvement had provided
downside support, but now the reality of outside influence
dramatically changes the stock’s outlook for the
better," the investment banker states in a note to clients. It
stresses that part of its positive thesis on the stock in
general is that "good brands don’t underperform
It adds that Whole Foods has "superior brand value but has
arguably been mismanaged as the company failed to adapt to the
evolving food retail landscape." Shares of the company shed
about 2.1 percent, closing at $33.46.