Schonfeld Strategic Advisors’ flagship hedge fund, Strategic Partners, posted a 10.3% gain in the first six months of the year on the back of positive performance across multiple strategies, according to a report by Reuters.
The report cites an unnamed source familiar with the matter as revealing that the fund as up 1.9% in June alone.
Key strategies contributing to the fund’s success include quantitative equities, tactical trading, global macro, relative value, and credit.
Schonfeld’s Fundamental Equity fund also saw significant gains, rising 11% in the first half of the year and 2.6% in June, the source added.
The MSCI’s 47-country world stock index has risen approximately 11% since January, while the S&P 500 surged 15%, largely driven by megacap stocks including Nvidia.
For Schonfeld, the main sector contributors to equity performance were technology, industrials, and healthcare, with Asia standing out as the top-performing geographical region.
Schonfeld’s positive results follow more modest performance in 2023, when the flagship fund ended the year up 3%. Having reduced headcount last year, the firm has expanded its team in 2024, adding 40 investment professionals, including eight portfolio managers.
