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Alternative Market Briefing

Hedge fund assets hit yet another new peak of $3.24tn in 3Q despite investor outflows

Friday, October 19, 2018

Laxman Pai, Opalesque Asia:

Hedge fund industry assets hit a new record level of $3.24 trillion, ending the quarter on September 30 - the ninth consecutive quarter of record-breaking assets under management - despite investor outflows.

According to the latest HFR Global Hedge Fund Industry Report, hedge fund capital began 4Q18 at a new record level for the ninth consecutive quarter as investors continued the 2Q redemption trends from Macro, EventDriven, and Relative Value strategies, while Equity Hedge strategies also experienced small outflows in 3Q18.

Third-quarter net outflows totaled $9.1 billion, following $3.1 billion in net outflows for the second quarter. For the year, investors have redeemed an estimated $11.1 billion of hedge fund industry capital, HFR said.

HFRI Fund Weighted Composite Index gains +0.55 in 3Q

The HFRI Fund Weighted Composite Index (FWC) gained +0.55 percent in 3Q18, with strong performance from Technology and Event-Driven strategies partially offset by volatility associated with expectations for higher US rates, as well as trade and tariff volatility in late 3Q.

The HFRI FWC has gained +1.4 percent YTD through September while the HFRI Asset Weighted Composite Index has advanced +1.7 percent, topping most European and Asian equities, though trailing the S&P 500.

Continuing the trend of the prior quarter, Macro hedge funds led strategy outflows in 3Q18 with an estimated net outflow of $3.8 billion, as investor......................

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