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Alternative Market Briefing

86 new hedge funds launched in 2Q 2019

Friday, July 19, 2019

Laxman Pai, Opalesque Asia:

There were 86 new hedge fund launches in Q2 2019, of which 87% were traditional single-manager commingled funds, said Preqin in ints Quarterly Update.

No CTAs launched in Q2, which could be a knock-on effect of underperformance in 2018 (-3.96% vs. -3.01% for hedge funds), it said.

Europe-based funds accounted for a greater proportion (36%) of hedge fund launches in Q2, up from 23% in Q1.

Notable managers including Man Group, Algebris Investments and Credit Suisse all launched hedge fund strategies in the quarter.

New hedge funds have steadily shifted their allocations over the past four quarters from a global focus to more region-specific opportunities in developed markets.

As stock markets in Europe and the US remained strong throughout Q2, equity strategies were once again the strategy most commonly deployed among new funds, representing 45% of launches.

In contrast, with more volatility potentially looming from Brexit and an escalating US-China trade war, macro strategies - which represented 12% of launches in Q2 - could be better positioned to navigate volatile market events.

Hedge funds perform well in 2Q

The Preqin All-Strategies Hedge Fund benchmark has sustained its good performance from the beginning of the year, posting a Q2 return of 2.45%.

Funds focused on North America were the top performers geographically with a return of 2.58% for the quarter, closely followed by funds targe......................

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