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Alternative Market Briefing

Preqin study finds long/short equity funds have outperformed other strategies over first quarter

Friday, April 26, 2013

Beverly Chandler, Opalesque London: Latest research from Preqin reveals that long/short hedge funds have outperformed other strategies in the first quarter of 2013 with cumulative net returns of 4.43%. The strategy is described by Preqin as the most popular single strategy hedge fund for institutional investors, with 43% of investors that are planning on making new allocations to hedge funds in the next 12 months favouring this strategy.

According to their research, macro strategies hedge funds posted returns of only 1.17% in the first quarter of 2013, and fund launches for this type decreased from 32% of all hedge funds in the fourth quarter of 2012 to 14% in first quarter 2013. However, the company reports that investor appetite for macro funds is at its highest level since the second quarter of 2012, with 29% of investors indicating that they are seeking macro hedge funds, compared with 37% of investors in the second quarter of 2012.

Other key facts from the Preqin report include:

  • Long/short equity funds account for 58% of all hedge fund launches in Q1 2013, significantly higher than the 36% of hedge fund launches which were represented by the long/short strategy in Q1 2012.
  • CTAs were the worst performing hedge funds in Q1 2013, with net returns of 0.21%; investor appetite for this strategy has fallen from 25% of searches issued in Q2 2012 to 17% in Q1 2013.
  • Event driven strategies posted the highest......................

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