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Laxman Pai, Opalesque Asia: For 2018 through 3Q, the number of new hedge fund launches narrowly exceeded liquidations by a margin of 450 to 444, according to the HFR Market Microstructure Report.
However, "hedge fund liquidations exceeded launches in 3Q, reversing a four-quarter trend of net growth in the number of funds, with liquidations rising over the prior quarter while launches were essentially flat over 2Q," said a report released by Hedge Fund Research.
Hedge fund closures totaled 174 in the third quarter, compared to 125 in the previous quarter and 137 in third quarter 2017, it said. The last time hedge fund closures topping launches was in the second quarter 2017 when 222 funds shut down and 180 funds started trading.
An estimated 144 funds launched in 3Q18, representing a narrow decline from the prior quarter launch total of 148, but a more precipitous drop over 3Q17 launches of 190, which was the highest quarterly launch total since 2Q16.
HFRI Fund Weighted Composite Index gains +0.5%
The HFRI Fund Weighted Composite Index gained +0.5 % in 3Q18, though 4Q declines have lowered the YTD return through November to -2.0%, inclusive of a -3.1% loss in October.
The trend of larger fund outperformance has continued throughout 2018, with the HFRI Asset Weighted Composite Index essentially unchanged YTD, narrowly declining by -0.06%.
The HFRI Relative Value (Total) Index has led all strategies for 2018 with a YTD gain of +2.1%, while the ...................... To view our full article Click here
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