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Alternative Market Briefing

2014 best year since 2007 for hedge funds

Friday, January 23, 2015

Bailey McCann, Opalesque New York:

Hedge funds ended the year just north of $3 trillion - a record high not matched since 2007, according to the latest hedge fund asset flows data from eVestment. The figure is notable as December saw some redemptions on the month. Investors withdrew $13.2 billion from hedge funds in December.

Still there were some winners. After 15 consecutive months of investor redemptions, managed futures received net inflows of $1.0 billion in December.The top 10 managed futures strategies for inflows in December returned an average of 12.3% in H2 2014.

Investors pulled more money from credit strategies in December than in any month over the last three years. "The string of poor returns over the last five months of the year, resulting in the group’s worst aggregate returns since the financial crisis, likely weighed on investor sentiment," wrote Peter Laurelli, VP and Head of Research for eVestment. The string of poor returns over the last five months of the year, resulting in the group’s worst aggregate returns since the financial crisis, likely weighed on investor sentiment in the report.

Still, both distressed and MBS-focused funds continued to see net inflows to end the year.

"2014 was an interesting year for hedge fund flows with virtually all of the year’s inflows coming in the first six months," Laurelli wrote. "If we do not see that trend persist into 2015, then it could be a sign of a shift of sentiment towards the industry as......................

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