Steve Cohen's Point72 is back to its old winning ways – arguably without the benefit of “information arbitrage” and “expert networks” this time – and 6 months after the hedge fund relaunched with $4 billion in outside capital after a several year suspension from the markets for insider trading, it is up 7% in the first half of the year according to Bloomberg, after a flat June which proved to be a especially painful for some of Cohen's peers, such as David Einhorn and Russel Clark.
As reported recently, Point72 recently added to its trader ranks by hiring PMs from Balyasny Asset Management as well as workers from Morgan Stanley's electronic trading desk, the Equity Trading Lab.
Year-to-date, and as we reported recently, CTA/Managed Futures strategies remained the worst performer, down 4.1%, due in part to currency volatility and weakness in emerging markets.
For the first half of 2018, four strategies gained and three reported declines.
Activist funds gained 0.07 percent in June and are up 13 percent for the first half Finally, a look at how specific strategies have performed, courtesy of Bloomberg:.