In a market defined by macro uncertainty, fragmented geopolitics, and disruptive technology cycles, long-short hedge funds are once again proving to be return-generating vehicles as well as buffers against risk. One such firm, Anson Funds, has become a case study in how multi-strategy hedge funds are evolving to meet the moment.
Founded in 2003 and co-led by Chief Investment Officer Moez Kassam, Anson Funds employs a market-neutral strategy that combines long positions, short selling, and special situations. It’s a structure that appeals to allocators looking for exposure without excessive correlation to broader equity markets.
Anson manages approximately US$2 billion and maintains offices in Toronto and Dallas. While it does not disclose its full portfolio publicly, the firm has been linked to InterRent (sold to Carriage Hill for $4b), Lionsgate (split company), Gildan (defended CEO), Globalstar (pushed to monetize spectrum), Five9 (joined BoD), Twilio (joined BoD), and Tinder owner Match Group.
In a recent interview, Kassam emphasized the importance of intellectual independence and disciplined research. “At Anson Funds, we remain committed to building on our proven strategies. We think we have a special sauce and are sticking to the recipe. Having conviction in your strategy and in your individual names is particularly important in this headline driven environment.”
Since Trump’s election, asset classes have posted highly inconsistent returns, with tech equities, high-yield bonds, and even real estate swinging from gains to drawdowns. Investors are increasingly wary of short-term speculation and misinformation, a concern amplified by rapid online trading activity, the rise of the pod-shop, and the increasing effects of social media on the investing environment.
Hedge funds like Anson Funds are positioning themselves as fact-checkers in the capital markets. Their approach, Kassam noted, is “part detective work, part risk control.” The firm’s strategy includes taking short positions in companies they view as fundamentally flawed, while their long book features multiple strategies: value, momentum, special situations, and activism.
In a fragmented market where litigation, regulation, and boardroom disputes frequently move stock prices, the ability to analyze these events and act quickly gives Anson’s activist and special situation teams an edge. Kassam described this part of the business as a “toolkit for navigating structural dislocations,” often where traditional asset managers have limited flexibility and/or depend on external, slow moving consultant groups like ISS or Glass Lewis.
Firms like Anson Funds are gaining visibility for their methodical approach. While not every hedge fund has weathered the past five years with equal stability, those that maintained internal discipline and analytical depth are now being recognized not just for their returns, but for their resilience. Recent industry data shows that fund flows into market-neutral and long-short equity strategies have risen steadily since early 2024 as allocators prioritize managers who can generate uncorrelated alpha and avoid overexposure to certain factors.
For investors seeking more than passive participation in a volatile market, that terrain may best be navigated alongside fund managers like Moez Kassam with a proven record of skepticism, adaptability, and depth.