Sat, Feb 13, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Cerulli finds robust growth for long/short credit funds

Monday, July 29, 2013
Opalesque Industry Update - Cerulli Associates's July's Monthly Spotlight found long/short credit funds are garnering interest.

Highlights from this research:

Even though long/short credit funds only represent 2%, or $4.5 billion, of alternative mutual fund assets, the category experienced robust growth in 2012, boosting assets by 46%. It was the third-fastest growing among the alternative categories, behind MLP funds and inverse/bear market funds, which expanded by 115% and 67%, respectively.

Capping off what was already a downward trend in 2Q mutual funds flows, June outflows of -$47.3 billion displayed a level not seen in the vehicle since October 2008 (-$98.8 billion). These outflows dragged overall 2Q 2013 flows to $27.1 billion. International equity was the leading category in June, which also propelled it past taxable bond to the highest sales YTD.

ETFs experienced overall monthly net outflows of -$10.5 billion in June, which was the first time since June 2011. ETF managers with limited focus in the international equity, commodity, and long-term bond classes fared the best.

Alternative product development appears to have moderated in 2013 with only 15 new alternative mutual funds launched in the first quarter-but Cerulli anticipates many more new portfolios will be launched. Nearly 90% of asset managers that responded to a recent Cerulli survey reported plans to develop four or more alternative products during the next 12 months.

Press release

bc

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
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. Asia - Hedge fund manager Kyle Bass estimates China's foreign reserves below critical level[more]

    From Nasdaq.com: Investor Kyle Bass stepped up his attack on China's currency, arguing in an investor letter distributed Wednesday that the second-largest economy's foreign reserves are "already below a critical level." The comments mark the latest effort by hedge funds and other investors to raise

  2. Investing - Some hedge funds want to make subprime auto loans next big short, 11 hedge funds that are “all in” on the FANG stocks, Hedge funds short London luxury homes, Cynet raises $7 million from U.S. hedge fund[more]

    Some hedge funds want to make subprime auto loans next big short From Bloomberg.com: A group of hedge funds, convinced they have found the next Big Short, are looking to bet against bonds backed by subprime auto loans. Good luck finding a bank willing to do the trade. Money manage

  3. Investing - Hedge funds see selloff in European bank stocks as buying opportunity[more]

    From WSJ.com: The massive selloff in European bank stocks and bonds is overdone and presents a “phenomenal” buying opportunity, according to some of Europe’s top hedge-fund managers. Despite a 28% slump in European bank stocks this year, including a 38% fall in Deutsche Bank AG and a 34% drop in Soc

  4. Legal - Carlyle accused of fraud by ex-employee, Hedge funds win CDS breach of contract suit against Deutsche Bank, Hedge fund asks for OK on $27.5m Goldman CDO deal, SFO examines Barclays hedge fund profits[more]

    Carlyle accused of fraud by ex-employee From AI-CIO.com: A former portfolio manager claims he was fired for blowing the whistle on “crazy” and “irresponsible” investments. Carlyle Group has been sued by a former portfolio manager for one of its hedge funds, who accused the firm of “knowi

  5. Illiquid assets are all the rage for hedge funds[more]

    From Valuewalk.com: …Institutional investors are increasingly turning to illiquid assets and active management strategies to combat macroeconomic trends, anticipated market volatility and diverging monetary policy, according to a new survey by Blackrock. And this week, Bloomberg has reported that at