Under-the-radar Qube Research and Technologies started its encore to its stellar 2023.
The largest fund at the $14 billion quant manager was up roughly 10% in January, sources familiar told Business Insider.
The London-based manager run by CEO Pierre-Yves Morlat and CIO Laurent Laizet led the way in what was generally a strong month for quant funds. According to Hedge Fund Research, the average systematic fund betting on equities made 1.8% in January, besting the S&P 500 and the average hedge fund, which were up 1.6% and 0.2%, respectively.
At $40 billion Renaissance Technologies, the institutional equities fund made 4.8% through the end of January — a strong surge after a 7.1% return in 2023. Its smaller institutional diversified alpha fund made 5.86% through January 26, according to HSBC’s Hedge Weekly report, after losing money last year.
Paris-based Capital Fund Management, meanwhile, was up 3.3% in its $10.9 billion Stratus fund, a source close to the firm told BI. The manager’s $4.7 billion Discus strategy was at 3.9% for the month.
Man Group’s AHL unit did not meet the highs as some of its peers in the month. According to HSBC, the firm’s funds, through January 26, returned:
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3% in AHL Evolution
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0.1% in AHL Dimension
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-0.7% in AHL Alpha
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-1.3% in AHL Diversified
As of the end of the third quarter, these four funds managed $5.4 billion, $5.8 billion, $8.8 billion, and $1.3 billion, respectively.
The firms mentioned declined to comment.
