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Alternative Market Briefing

Hedge funds close out Q1 in positive territory

Wednesday, April 12, 2017

Bailey McCann, Opalesque New York:

After a streak of lackluster performance, hedge funds seem to be on the mend. New performance data from eVestment shows that hedge funds ended Q1 in positive territory up +2.63 percent for the quarter. Returns for the past 12 months now stand at +8.48 percent. In all of 2016, hedge funds returned +5.61 percent.

Asset flows have started to come back too. According to additional data from eVestment, investors made $7.9 billion in new allocations to the industry in February. March allocation data is still being compiled.

Among major strategies, Quantitative Directional Equity and Long/Short Equity strategies were the strongest performers, returning +0.77 percent and +0.74 percent respectively for March. Quantitative Directional Equity closed out Q1 up +3.14 percent. Long/Short Equity ended the quarter up 3.70 percent.

On a regional basis, China focused funds are off to a good start this year. The cohort is up over 8 percent for 2017. India funds have also maintained their positive performance streak ending the quarter up 14.76 percent.

March saw the greatest dispersion among large macro funds. Prior to the start of the month, the largest macro funds had been outperforming significantly. For the cohort, returns for the previous 12 months were over 7 percent. However, by the end of March, average returns for the largest funds were negative, bringing Q1 to near flat. These wild swings have made it difficult for all but the mos......................

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