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Alternative Market Briefing

Despite a slow end to 2012, hedge funds may be on track for a more positive future

Thursday, February 14, 2013

amb
Alan Pace
Bailey McCann, Opalesque New York:

2012, was a marginally better year for hedge funds, HFRX Indices saw the Global Absolute Return index end 2012 up 0.88% and the Global Hedge Fund Index up 3.51% for the year. Yet, they still lagged the S&P 500, a trend which persisted through January. Now, new research shows that investor sentiment is improving and new launches are on the rise.

"Performance is a symptom of change not a trend," said Alan Pace, managing director, global head of sales and client experience at Citi Prime Finance at a recent press event. In the last six months, new hedge fund launches have been creeping back up with a renewed focus on the US equities market. The capital for those launches are also coming from more places than just seeders or friends and family - family offices and in some cases, institutions are getting in early.

As Opalesque reported earlier this week, new data from Towers Watson shows that institutional mandates to hedge funds are on the rise. In total, equity mandate selections among Towers Watson clients accounted for US$22bn in assets invested last year. Hedge fund mandates also increased into macro, fixed income and reinsurance funds.

Bank of America has also noted t......................

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