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Alternative Market Briefing

Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows

Thursday, April 28, 2016

Komfie Manalo, Opalesque Asia:

The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4 2015, and is in contrast to the $28.8bn that the industry gained in investor capital in the same period last year.

Overall, the total assets under management held by hedge funds globally fell 0.48% in the Q1 2016, to stand at $3.13tn at the start of the second quarter.

However, Preqin noted that CTAs and multi-strategy funds saw net inflows during the period. CTAs and multi-strategy funds were the only strategies to record net inflows, gaining $13.7bn and $12.8bn respectively. Equity strategies funds saw net outflows of $9.7bn in the quarter, while credit strategies funds saw the largest outflows of $11.9bn.

Over the past four quarters, multi-strategy and CTA funds have seen the largest net inflows, gaining $28.1bn and $27.0bn respectively. Macro strategies have seen the largest net outflows, losing $28.8bn in investor capital. Event driven, macro, relative value and credit strategies funds have all seen net outflows in three of the past four quarters.

More outflows expected this year

Preqin’s survey of investors in November 2015 found that more investors (32%) plan to reduce their exposure to hedge funds in 2016 than plan to increase it (25%). This is t......................

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