HSBC released their last weekly hedge fund weekly performance report, closing 2024 and practically revealing the best and worst-performing hedge funds.
The last report from HSBC we covered after the election frenzy, and since then the list underwent a major rehaul, with the fund from Wellington, a long-time leader in the race, falling to ninth place. The winner with staggering 61.77% gains was Exponential Age Digital Asset Fund. It wasn’t included in the last report we covered, but it did have notable results through the year.
While we did not cover the worst-performing funds, we will mention that the Renewable L/S fund from Proxy P will want to forget this year, with a negative return of 16.82%. Also, the Quant Acar fund from Gresham Investment Management and the Lancaster Absolute Return Fund also delivered negative returns in the teens with -15.92% and -14.49%, respectively.
| Rank | Fund Name | Management Company | YTD Returns (%) | AUM (in millions) | Performance Insights |
| 1 | Exponential Age Digital Asset Fund (offshore) | Exponential Age Asset Management | 61.87 | $75 | A comeback of 107.21% in 2023 after -67.4% in 2022 |
| 2 | VanEck Digital Assets Alpha Fund | VanEck | 56.15 | $142 | Massive 164.54% gain in 2023 |
| 3 | Two Seas Global Fund | Two Seas Capital | 35.70 | $788 | Steady gains in 2021, 2022, and 2023 in which the fund reached 22.43%, 11.04%, and 21.59%, respectively. |
| 4 | Nickel Digital Asset Management | Nickel Digital | 34.91 | $147 | Finished 2023 with 20.1% after -9.97% in 2022. |
| 5 | Shiprock Capital Master Fund LP | Shiprock Capital Management | 34.42 | $775 | 32.44% gain in 2023 |
| 6 | QuantEdge Global Fund | QuantEdge | 34.10 | $2,666 | 2019 gain 70.44%, 2022 -21.29%, 2023 29.71% |
| 7 | DUNN WMA Fund SA | DUNN Capital Management LLC | 32.64 | $96 | 61.44% gain in 2022 |
| 8 | EJF Financial Services Fund | EJF Capital | 31.22% | $109 | 50.35% gain in 2021, 13.92% gain in 2023 |
| 9 | Wellington Management Investment Bermuda Pond | Wellington Management | 30.15% | $466 | 22.52%, 18.12%, 45.76%, 23.77% gains in 2023, 2021, 2020 |
| 10 | CastleKnight Master Fund | CastleKnight Management | 29.66% | $1,790 | 63.76% gains in 2021, 16.61% gains in 2023 |
