Los Angeles-based hedge fund, Hedonova, sees 2022 returns soar by 33 per cent
Jan 17, 2023
New York [US], January 17 (ANI/PRNewswire): Hedonova, an alternative investment fund with headquarters in Los Angeles, California, and offices across the globe, has recorded strong growth in returns as well as an asset base. Hedonova generated returns of 32.8 per cent post fees in 2022. In a short span of 3 years since its ambitious launch in 2019, Hedonova has seen exceptional growth in multiple avenues of its business. Assets under management increased from USD 160 million to USD 400 million.
The fund generated post fees returns of 32.8 per cent largely driven by its litigation finance and carbon credit holdings which, as separate asset classes, have generated returns of 58 per cent and 265 per cent. Startups and wine investments were the laggards in the portfolio losing 14 per cent and 6 per cent in 2022.
Hedonova's assets under management increased from USD 160 million to USD 400 million which includes assets added on when it acquired Chinese asset manager Qingdao Holdings, which it acquired in May 2022. Alongside increased AUM, clientele increased too. Hedonova primarily serves European and Asian institutional investors and US high net-worth investors. The number of clients increased from 2900+ to 3600+ with the number of institutional investors doubling and the number of high net worth investors increasing by 30 per cent.
As Hedonova's CIO Suman Bannerjee encapsulates the year- "Closing the year with 33 per cent net returns validates our efforts and is in line with our long-term strategy of making alternative investments accessible to our investors. We aspire to upscale our business further and enhance our product offerings in the coming years through consistent strategy and execution." Hedonova's assets under management have crossed a revenue from USD 160 million to USD 400 million and are projected to grow by 200 per cent in the coming fiscal year.
Hedonova opened two more offices in 2022 - in Singapore and Riga, Latvia. Singapore serves as an investor relations office serving South East Asian Markets and China while the office in Riga is a development center managing trading technology operations and mobile interfaces.
Hedonova operates through an extensive master-feeder model where the master fund is in the USA while feeder funds are in Singapore, Switzerland, and India. In 2022, the feeder fund network was expanded to the British Virgin Islands, Luxembourg, and Abu Dhabi. "We increased the number of feeders in Euro jurisdictions and the Middle East because we've been seeing increased demand from these regions," says Alexander Cavendish, Hedonova's CEO. "Feeder funds allow institutional investors to invest flexibly and in a safe, tested regulatory environment."
Hedonova is an Alternative Investment Fund that holds a diversified portfolio of alternative assets such as non-fungible tokens (NFTs), wine, cryptocurrencies, and real estate. With feeder funds in Switzerland, Luxembourg, Singapore, and India, European and Asian investors can diversify their investments in alternative assets that could conceivably appreciate, from art to wine, and sports collectibles could be classified as alternative investments.
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