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Alternative Market Briefing

Hedge fund composite performance was positive in 2013 - Citi Prime Finance

Friday, January 31, 2014

Bailey McCann, Opalesque New York:

According to the latest data from Citi Prime Finance, composite hedge fund performance, equal-weighted across funds, was up in December 2013 with performance ranging from +0.56% to +1.1%. Returns were on par previous month which experienced +0.55% to +1.05% over the same period. YTD hedge fund indices saw positive performance ranging from +6.7% to +9.6% compared to +4.4% to +6.7% for 2012.

In terms of top performing strategies, Equity Long/Short performed the best at +1.67%, Distressed +1.34%, Multi Strategy +1.22%, Global Macro at +1.16%. The lowest performing strategies include Dedicated Short -1.33%, Equity Market Neutral +0.65%, Fixed Income Arbitrage at +0.71%.

Hedge fund industry assets rose in December 2013, gaining +$14.8bn for the month and finished the year with an overall increase +$259bn. December gains were attributed solely from performance which totaled +$22.7bn. For the month investors flows were net negative accounting for -$7.9bn.

Net negative investor flows of -$7.9bn for December 2013 marks only the third period of net negative flows since January 2013. December flows are lower than the mean monthly flows for 2013 which now stand at +$5.6bn. Dec 2012 net flows were -$12.8bn over the same period.

On a global basis, leverage increased from November to December, gross leverage (as measured on a mean basis) at 2.01x in December 2013 versus 2.0x in November and 1.98x in October. Looking across g......................

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