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Matthias Knab, Opalesque: Hedge fund launches exceeded liquidations in 1Q 2018 for the third consecutive quarter, as both launches and liquidations fell through early 2018. An estimated 158 funds launched in 1Q18, down from 190 in 4Q 2017, the lowest quarterly new launch total since 153 funds were started in 4Q16, according to the latest HFR Market Microstructure Report, released today by HFR.
Fund liquidations also declined in early 2018 after falling sharply in 2017, with 145 funds liquidating in 1Q18 compared to 259 in the same period last year, the lowest total since 3Q17 and the second lowest total since HFR began tracking liquidations in 2008. There were 166 liquidations in 4Q 2017, and 670 for the 12-month period ending March 31, 2018.
The HFRI Fund Weighted Composite Index® gained +1.4 percent YTD through May 2018, offsetting a -2.3 percent decline in late 1Q, with strong gains in January and May. HFRI performance continued to be led by Equity Hedge with strong gains in Technology, Healthcare and Energy, though both Event Driven and Relative Value Arbitrage have also gained. The HFRI Equity Hedge (Total) Index was up +2.3 YTD through May, led by gain of +8.5 the HFRI EH: Healthcare Index; HFRI EH: Technology Index gained +7.9 percent, while HFRI EH: Energy Index returned +6.1 percent YTD.
Hedge fund performance dispersion slightly widened in 1Q18, with the top decile of HFRI gaining +9.5 in 1Q18, down from an average of +13.4 percent in 4Q 2017, while t...................... To view our full article Click here
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