Investment Objective
The fund aims to deliver attractive absolute returns with relatively low volatility and low correlation to most major markets by using relative value and arbitrage strategies.
Latest Meeting Note
Meeting 06 Dec 2023
Founded in 1991, HBK is a $7.0bn global Multi-Strategy manager focused on relative-value and arbitrage strategies. The firm employs 194 people, including 57 investment professionals. HBK recently launched an UCITS version of its flagship...
Founded in 1991, HBK is a $7.0bn global Multi-Strategy manager focused on relative-value and arbitrage strategies. The firm employs 194 people, including 57 investment professionals. HBK recently launched an UCITS version of its flagship Multi-Strategy fund on the Lumyna Platform. The investment process is disciplined and aims to dynamically allocate capital to individual trade ideas across six diverse business groups (corporate credit, DM fixed income, emerging markets, event driven equities, structured credit and volatility) or 8 sub-strategies, 7 of which are included in the UCITS (volatility trading is excluded). Importantly, the team does not set top-down capital allocations by business group or sub-strategies. Rather, the portfolio is built one investment idea at a time, with ongoing portfolio optimization by the co-CIOs. HBK’s multi-level approach to portfolio management allows it to combinebottom-up analysis of specific trade ideas with top-down views and decisions by the co-CIOs.
Performance
| JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC | YTD | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 0.0 | 0.5 | 0.6 | 0.6 | 0.7 | 0.2 | 0.7 | 0.4 | 0.9 | 0.6 | 0.5 | 0.2 | 0.5 | |
| 2022 | 0.1 | 0.5 | 0.8 | 0.0 | 1.0 | 0.7 | 0.8 | 0.8 | 0.9 | 0.3 | 0.3 | 0.1 | 0.4 |
