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A hedge fund that last year delivered its best result ever thanks to catastrophe bonds is now scaling back its position, based on a bet that the market is
(Bloomberg) -- Managers who went all out on the best hedge fund bet of 2023 are starting to recalibrate their portfolios, amid signs that the so-called catastrophe bonds underpinning the strategy are headed for a rough patch.Most Read from BloombergOne of the Most Infamous Trades on Wall Street Is Roaring BackStock Traders Bracing for Worst Shrug Off Hot CPI: Markets WrapUS Core Inflation Tops Forecasts Again, Reinforcing Fed CautionChina Has Never Canceled This Many Shipments of US WheatNY Says
(Bloomberg) -- For hedge funds, the science of catastrophes helped generate the best returns of any alternative investment strategy last year.Most Read from BloombergPutin Orders Hunt for Property of Russian Empire, Soviet UnionBurger King Is Serving Whoppers With a Side of CringeChina’s $6.3 Trillion Stock Selloff Is Getting Uglier by the DayMusk’s AI Startup Secures $500 Million Toward $1 Billion Funding GoalUAE Warns US Time Running Out to Avoid Wider Mideast CrisisThe calculus around natural
The best hedge fund strategy of 2023 was a bet on insurance-linked securities, and that's mainly cat bonds, according to Preqin.
Demonstrating the strong performance of catastrophe bond investments in 2023, Tenax Capital, the London based hedge fund investment manager that operates