Unlimited’s Machine Learning Technology Provides Near-Real Time View of Positions Across Asset Classes, Sectors and Geographies
Hedge Fund Performance Benefitted from Bullish Stance on U.S. Stocks in Q1 2024; Funds Hold Longest Japanese Stocks Position in Decades
NEW YORK, April 17, 2024 (GLOBE NEWSWIRE) -- Unlimited, an investment firm and ETF sponsor that uses proprietary technology to provide low-cost alternative strategies to a wide variety of investors, today announced the launch of “The Unlimited Hedge Fund Barometer,” a new quarterly report and data analysis tool that harnesses Unlimited’s technology to provide a near-real time picture of where hedge funds are investing.
Unlimited’s Barometer uses powerful machine learning technology and multiple data sources to track performance metrics for the major hedge fund strategies. It also provides a near-real time view into how hedge funds are positioned across major asset classes, industry sectors and geographies.
“Our new Barometer aims to give market participants a more comprehensive and current picture of the hedge fund industry,” said Bob Elliott, CEO and CIO of Unlimited. “Until now, understanding where the hedge fund world is currently invested has been limited to manager intuition and quarterly 13F filings, both of which often provide an inaccurate and incomplete picture.”
Unlimited Hedge Fund Barometer Q1 2024 Findings
According to Unlimited’s latest Barometer, hedge fund performance was positive during the first quarter, as nearly all strategies turned more bullish on U.S. stocks. To download the full report, click here. Other highlights include:
- Average gross returns across all strategies were nearly +6%.
- Managed futures strategies were the best performing with gross returns of nearly +10%.
- Emerging Markets were the worst performing at +3.8%.
Based on the Hedge Fund Barometer’s latest analysis, heading into the second quarter of 2024 hedge funds held long positions in U.S. equities, particularly in cyclicals, while being neutral on U.S. bonds in a bet that yields will continue to move higher. In this quarter, hedge funds:
- Significantly increased their bets on U.S. equities, with financials and homebuilders experiencing the most bullish sentiment.
- Became bullish on Japanese stocks with the greatest net long positions in decades.
- Picked up some CMBS exposure following significant price drops.
- Increased bullish bets on the U.S. Dollar.
- Adopted neutral positions on gold relative to historical positions.
- Were neutral on U.S. Bonds following the Fed pivot in November 2023.
Click here to view a video on how Unlimited’s technology works.
About Unlimited
Founded in 2022 by Bob Elliott, Bruce McNevin and Matt Salzberg, Unlimited is an investment firm using proprietary technology to create strategies that offer lower-cost access to 2 & 20 style alternative investment strategies, such as hedge funds, to a variety of investors. Mr. Elliott has built innovative hedge fund strategies for more than two decades, including at Bridgewater Associates, the world’s largest hedge fund. Mr. McNevin is a Professor of Economics at New York University and has held various data science positions at hedge funds Clinton Group and Midway Group, along with positions at Bank of America and BlackRock. Mr. Salzberg serves as a Managing Partner at Material and is a Co-Founder and Board Director of Unlimited. Learn more at unlimitedfunds.com.
Media Contacts:
| Sarah Lazarus | Zach Kouwe |
| Dukas Linden Public Relations | Dukas Linden Public Relations |
| +1 617-335-7823 | +1 551-655-4032 |
| sarah@dlpr.com | zkouwe@dlpr.com |
For informational and educational purposes only and should not be construed as investment advice. The data shown herein represents past performance and should not be construed as providing any assurance or guarantee as to returns that may be realized in the future. No representation is being made that any investment will or is likely to achieve profits or losses similar to those shown herein. No investment strategy or risk management technique can guarantee return or eliminate risk in any market environment.
