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Alternative Market Briefing

Preqin: Hedge fund of fund assets decline in 2015

Monday, March 28, 2016

Bailey McCann, Opalesque New York:

Hedge fund of fund assets declined by $12bn over 2015, wiping out gains made in 2014, according to the latest asset flows research from Preqin. The hedge fund of funds industry ended 2015 with a total of $807bn in AUM.

According to the report, trends like consolidation and closures dominated the industry as fund managers worked to find solutions to meet investor demand and also account for choppy markets. Within the industry, North American fund of fund managers are faring the best. 34% reported to Preqin that their assets have increased in 2016, while fund managers in Europe have seen declines.

"Managers in the region have dropped from a 44% share of multi-manager assets in 2007 to just 23% as at December 2015. The difficulties faced by funds of hedge funds in Europe in 2015 translated into a notable number of fund closures: 60% of the fund of hedge funds liquidations in 2015 were Europe-based vehicles," report authors wrote.

Despite some positive news in the early part of this year, there were three times as many closures in 2015 than there were launches, a trend that is unlikely to change in 2016. New funds of funds that are coming to market now, are by and large multi-strategy funds. Multi-strats are followed by equities strategies as the second most popular and macro strategies in third.

Read the full report he......................

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