CQS Directional shines again as multi-strats make steady progress


Modest gains were the order of the day for most mixed arbitrage and multi-strategy funds last month — though there were outliers at both ends of the spectrum.

IPM Systematic Macro Diversified posted a 5.11% gain in July, followed by Winton Evolution with a return of 4.20%. Chenavari Real Estate Debt was up 2.58%, and Michael Hintze’s CQS Directional Opportunities made 2.18% for an impressive year-to-date return of almost 20%.

BlackRock Agriculture was up 1.79%, Brummer Multi-Strategy returned 1.68%, BlueCrest AllBlue gained 1.66% and The IKOS Hedge Fund was up 1.59%. BlueCrest Capital International advanced 1.46%, CQS