Global Hedge Funds Suffer Steep Losses as AI Trade Unwinds, Asia Funds Hit Hardest
11 Articles
11 Articles
Global hedge funds suffered heavy losses this week after a sudden correction in artificial intelligence investments triggered a widespread sell-off, according to a new report from Goldman Sachs’ prime broker business. Asia-focused funds suffered the biggest blow. We’ll be covering the topic of investing in depth at Portfolio’s exclusive Professional Investment Day conference, details and registration here.
The Economic Times
Times of IndiaGlobal hedge funds suffer steep losses as AI trade unwinds, Asia funds hit hardest
Global hedge funds suffered steep losses as investors unwound artificial intelligence-related trades amid inflation concerns and expectations of higher interest rates. Asia-focused stock pickers were hit hardest, losing 6.8% in early October, while global fundamental long-short funds fell 2.9% through October 15, according to Goldman Sachs data cited
New Strait Times
AI selloff hammers hedge funds this week, Asia managers lead losses
Goldman Sachs data up to October 15 showed that the sell-off in AI stocks also affected large funds. While Asia-focused funds saw losses reach 6.8 percent in the first half of October, the decline accelerated in global funds as well.
A settlement of shares linked to artificial intelligence left weekly losses in global hedge funds, with managers focused in Asia among the hardest hit. Concern over the cost of financing AI investments coincided with higher-than-expected inflation data in the United States and strong declines in Asian semiconductors and markets.
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