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Alternative Market Briefing

Hedge fund assets surge in Q1 to $3.18tn but still below 2018 record high

Thursday, April 18, 2019

Laxman Pai, Opalesque Asia:

Hedge fund industry assets increased during the first quarter to $3.18tn as of March 31, 2019 (Q1) driven primarily by strong investment performance overcoming continued net outflows.

Total capital invested in hedge funds surged in the first quarter of 2019, paring losses from the prior quarter, as the strongest first quarter of industry performance since 2006 vaulted industry capital by $78.8bn, data released by Hedge Fund Research showed.

The HFRI Fund Weighted Composite Index gained +5.7% in 1Q, the strongest first quarter gain since 2006, according to the latest HFR Global Hedge Fund Industry Report.

The current asset level is the fifth highest recorded and represents a drop of 1.9% from the record high of $3.24tn as of Sept. 30, 2018 (Q3) which had been the ninth straight quarter of record high asset levels.

The quarterly capital gain represents the largest increase since the industry grew by $94.2bn in 1Q15.

The 1Q19 performance-based gains of $96.6bn were partially offset by investor outflows of $17.8bn, approximately 0.5% of total industry capital. This marks the fourth consecutive quarter of net asset outflows, which occurred following a period of four consecutive quarterly net asset inflows.

HFRI Equity Hedge (Total) index returns 7.8% in Q1

Equity Hedge (EH) led performance-based asset increases in the first quarter, driving EH capital to $917.2bn, a gain of $45.4bn from the prior quarter.


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