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Alternative Market Briefing

Hedge funds register outflows but performance gains lift assets to record $3.61tn

Wednesday, August 22, 2018

Laxman Pai, Opalesque Asia:

Hedge funds recorded quarterly outflows of $1.2bn in Q1 2018, ending a streak of five consecutive quarterly inflows, reported data firm Preqin.

However, due to positive performance, hedge fund assets under management stand at a record high of $3.61tn as at the end of June 2018.

Credit strategies attracted the greatest amount of capital amounting to $11bn, driving its H1 2018 net asset flows to $19bn - the largest of any top-level strategy. Event driven strategies also recorded strong inflows, with net positive flows of $9.2bn in Q2.

Only North America-based managers recorded net inflows, attracting a combined net $22bn. In contrast European hedge funds experienced a second consecutive quarter of outflows.

In Q2 2018, 51% of funds of $1bn or more saw inflows, while just 31% of funds of less than $100m experienced inflows, an indication that investors are moving capital into the largest funds.

Amy Bensted, Head of Hedge Funds said: "After a streak of five consecutive quarter of inflows, the hedge fund industry has recorded its first quarter of outflows since Q4 2016. However, hedge fund assets under management have reached a record high of $3.61tn driven by performance."

Amy added: "Investors continue to put more money to work in credit strategies, following net outflows from these strategies in 2017 and 2016. In Q2 these strategies attracted the greatest inflows, following inflows of nearly $8bn in Q1. In con......................

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