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Alternative Market Briefing

Hedge fund launches fell to lowest level in three years in 2013, more funds liquidate

Wednesday, March 19, 2014

Komfie Manalo, Opalesque Asia:

Data provider Hedge Fund Research said new hedge fund launches fell to their lowest level in three years in 2013 to 1,060 since the 935 fund launches recorded in 2010.

According to the latest HFR Market Microstructure Industry Report, hedge fund launches declined even as the industry generated a record $2.62tln in assets last year from fresh inflows.

"Despite the modest and encouraging normalization of data on capital inflows by firm size though year end, data on launches and liquidations suggests the capital raising environment for mid- to small hedge funds continues to be challenging," stated Kenneth J. Heinz, President of HFR.

He added, "As the scope and audience for new hedge fund products continues to expand, new funds are faced with the combined challenges of generating performance to attract investors while offering comprehensive, institutional infrastructure, competitive fee terms and attracting investment professionals necessary to expand the business franchise. Execution across all of these is now necessary to expand into the institutional marketplace, resulting in improved quality of products industry-wide and contributing to the increased appeal of the hedge fund industry for investors of all types."

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