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Alternative Market Briefing

Agecroft predicts key trends for the hedge fund industry in 2013

Tuesday, January 08, 2013

Beverly Chandler, Opalesque London: Donald Steinbrugge, Managing Member of Agecroft Partners predicts that the hedge fund industry will set a new record for assets in 2013 despite the lackluster investment performance for the industry over the past two years.

Performance, Steinbrugge predicts, will be driven by pension funds increasing their asset allocations to hedge funds, and a broadening of the hedge fund investor base due to the passage of the JOBS ACT. "This conclusion is based on several dominant and emerging trends Agecroft has identified through their contact with more than 2,000 institutional investors and 300 hedge fund organizations during 2012" Steinbrugge says.

The eight trends the organisation identified include:

  • Pension Funds will continue to be the largest contributor to growth in the hedge fund industry in 2013 We will continue to see a strong trend of pension funds increasing their allocation to hedge funds in order to enhance returns and reduce downside volatility in their portfolios in order to help manage their massive unfunded liabilities. As a result of declining interest rates, forward looking return assumptions are currently around 3% for fixed income portfolios managed against the Barclays Aggregate Bond Index which currently represents approximately 30% of pension funds’ total assets. With current actuarial return assumptions averaging approximately 7.5%, we will see ......................

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