Thu, Sep 18, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Macro and managed futures fund assets drop to near all-time lows: eVestment

Tuesday, February 04, 2014

Bailey McCann, Opalesque New York:

New data out from eVestment on macro and managed futures funds show that as performance in the two groups continues to lag, assets under management have dropped to near all time lows. At the same time, assets to the hedge fund industry overall have increased by nearly 10%. Investors redeemed more from macro strategies in 2013 than in any other year on record driven by large outflows at year end.

In terms of performance, over the past five years, cumulative gains for macro funds were roughly half that of the hedge fund industry and managed futures performance has been nearly flat since October 2010. Some of this reflects the natural performance of these types of strategies up against an equity market bull run like we've seen since 2009. However making that case to still return starved investors -- faced with paying fees -- is difficult.

Report data shows that performance lifted assets by about $8bn for macro funds last year, despite redemption outflows amounting to an asset weighted return of 3.6%. The picture for managed futures funds is a bit more dire, the group had their largest ever AUM decline in 2013, previous largest ever declines were in 2011 and then again in 2012. At USD 143.8bn, managed futures AUM is at its lowest level since Q1 2007.

"Investors redeemed, on net, more from managed futures strategies in 2013 than they did from all other strategies with net investor outflows for the year, combined, by a fact......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  2. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  3. Investors looking at other sources for hedge fund-like returns[more]

    Komfie Manalo, Opalesque Asia: Investors who are always on the lookout for higher gains are looking at alternative sources of income, particularly exchange-traded fund industry that generates hedge fund-like returns, according to

  4. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e

  5. Opalesque Exclusive: Old Hill Partners launches specialty finance fund[more]

    Bailey McCann, Opalesque New York: Asset-backed lending is starting to heat up again after a prolonged credit squeeze. The Financial Times reports that a record £18.9bn was borrowed from asset-based lenders in the three months to the end of June. Much of this lending is driven by advanc