(Bloomberg)Assets at David Harding’s quantitative investment firm plunged by about $5 billion last year as it shifted strategy and investors lost patience with computer-driven hedge funds. The money managed by Winton Group slumped to $23.6 billion at the end of 2018, with its flagship fund losing 0.6 percent, according to investor letters seen by Bloomberg. A spokesman for the London-based firm declined to comment.
The quant powerhouse, previously known for betting on market trends, has been transforming itself into a firm that combines various investment strategies to deliver on a promise of consistent returns. While that helped it outperform rivals and lose less than equity markets last year, some investors headed for the exit.
