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TrimTabs and BarclayHedge: Hedge funds receive meager $430m, underperforms S&P 500 by 126 basis points in April

Friday, June 14, 2013
Opalesque Industry Update — BarclayHedge and TrimTabs Investment Research reported today that hedge funds took in a net $430 million (0.02% of assets) in April 2013, building on an inflow of $817 million in March. The results are based on data from 3,393 funds.

The industry delivered a return of 0.6% in April, one-third of the S&P 500’s 1.8% rise. The trend was similar over the past 12 months, when hedge funds earned 8.1% and the S&P 500 rose 14.3%.

The TrimTabs/BarclayHedge Hedge Fund Flow Report noted that stock-picking hedge fund managers performed well, just as they did over the past 12 months.

“Equity Long Only hedge funds rose 4.4% in April, making them the best performing of 13 major fund categories,” said Sol Waksman, president and founder of BarclayHedge. “Fixed Income and Multi Strategy continue to be the only strategies to post inflows in the past 12 months."

Funds of hedge funds continued to shed assets, losing $4.2 billion in April and $53.2 billion over the past 12 months. Funds of funds outperformed the hedge fund industry for the first time in 10 months in April, outpacing the industry’s gains by 20 basis points.

The latest TrimTabs/BarclayHedge Survey of Hedge Fund Managers found that bearish sentiment on the S&P 500 dived by 25 percentage points in the wake of the relentless rally in May. Nevertheless, while bullishness for June slightly outstrips bearishness, most managers are neutral.

The TrimTabs/BarclayHedge database tracks hedge fund flows on a monthly basis. The Survey of Hedge Fund Managers appears monthly in the TrimTabs/BarclayHedge Hedge Fund Flow Report, which provides detailed analysis of hedge fund flows, assets, and returns alongside topical studies. Click here for further information .

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