In summary...
The majority of Aurum’s commingled and bespoke fund of hedge funds US dollar classes delivered positive net returns in Q3 2026, ranging from -1.1% to 3.1%. Firmwide performance was driven primarily by systematic and macro allocations, while equity and multi-strategy strategies detracted. The quarter was characterised by sharp reversals in AI-related equities, divergent regional equity performance and shifting trends across rates, currencies and commodities. These conditions created opportunities for diversified trading strategies, although abrupt market moves and changing investor positioning presented challenges for some managers.
