Experiencing ups and downs in the first half of the year, small hedge funds have outperformed multi-strategy funds.

After experiencing sharp fluctuations in the first quarter, with the market rebounding comprehensively in recent months, stock strategies and event-driven strategies have become the best investment strategies for hedge funds in the first half of the year. According to sources, as of the end of June, CastleKnight and Melqart's Opportunities funds have risen by 42.3% and 29.1% respectively. At the same time, the stock funds focused on Asia, TAL China Focus and Keystone, achieved returns of 95.1% and 62.7% respectively during the same period. In large multi-strategy hedge funds, Citadel's Wellington fund rose by 1.8% in June, with cumulative returns reaching 5.7% year-to-date; Millennium Management rose by 4.1% in June, pushing cumulative returns for the first half of the year to 10.5%. Qube Research & Technologies' Torus fund rose by 7.8% in June, bringing cumulative returns for the first six months of the year to 18.6%.