TCI Triumphs, Ackman Returns To Elite List, Dalio Reports Losses: Top-Performing Hedge Funds In 2023
Portfolio Pulse from Piero Cingari
LCH Investments reports that elite hedge funds delivered $67 billion to investors in 2023, tripling the previous year's returns. Top funds outperformed the industry average with a 10.5% gain. TCI Fund Management led by Sir Christopher Hohn topped the ranking with $12.9 billion in gains, followed by Citadel and Viking Global. Bridgewater Associates reported losses. The Global X Guru ETF (GURU) underperformed the SPDR S&P 500 ETF Trust (SPY) with an 18.6% return compared to SPY's 24.3% gain.
January 22, 2024 | 3:13 pm
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NEGATIVE IMPACT
The Global X Guru ETF (GURU) underperformed with an 18.6% return compared to the SPDR S&P 500 ETF Trust (SPY)'s 24.3% gain in 2023.
GURU's underperformance compared to SPY is a negative indicator for investors who may be evaluating the ETF's ability to capture market gains. This could lead to a short-term negative sentiment among investors.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) outperformed the Global X Guru ETF (GURU) with a 24.3% gain in 2023.
SPY's outperformance relative to GURU and its alignment with the broader market's gains could attract investors looking for market-matching returns, potentially leading to a positive short-term impact on its price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80