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Alternative Market Briefing

Asian hedge funds will drive investor demand in 2019: Survey

Wednesday, March 20, 2019

Laxman Pai, Opalesque Asia:

Asian hedge funds, specifically China equity long short as well as distressed strategies, and distressed debt strategies will drive investor demand in 2019, revealed a survey.

According to an annual survey of 425 allocators conducted by Deutsche Bank's hedge fund capital group, an average hedge fund portfolio managed by the survey's respondents in 2018 returned 1.6% year-to-date Nov. 30, lower than their full-year average performance target of 7.17%.

The shortfall was the largest in seven years, said the survey, which covered 425 allocators managing or advising on $1.74 trillion in hedge fund assets and located in 28 countries.

Investors plan to add to hedge funds despite underperformance

46% of respondents plan to grow their allocation to hedge funds in 2019, said the survey.

"The average hedge fund portfolio managed by our respondents generated a year to date return of +1.60% (as of 30 November 2018), 558 basis points lower than their +7.17% full year average performance target making it the largest shortfall between realized and target performance over the past 7 years when we last asked this question," it said.

Only 13% of responding investors met their performance target in 2018, a substantial drop from 2017 when this statistic was 68%.

Today, a record 69% of investors have less than 25 direct investments in their hedge fund portfolio, compared to 37% five years ago. Managers are competin......................

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