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Alternative Market Briefing

The number of hedge funds launched in Q3 declined to 67 from 121 the previous quarter

Friday, October 18, 2019

Laxman Pai, Opalesque Asia:

Traditional single-manager funds accounted for 84% of all hedge funds launched in Q3 2019, in line with the statistics from Q2 2019, when such funds accounted for 87% of funds launched, said Preqin.

However, there has been a steep decline in the number of hedge funds launched from the previous quarter, from 121 to 67, as managers take a more conservative approach in the current macroeconomic climate.

According to Preqin quarterly update on hedge funds, 33% of funds launched in Q3 focus on North America, increasing for the second quarter in a row.

The proportion of global-focused and emerging markets-focused fund launches remained consistent with the previous quarter, but those focusing on Asia-Pacific and Europe dropped off by 25% and 50% respectively.

The move away from Europe may be influenced by uncertainty around Brexit.

Fund managers launching new funds in Q3 appear to be focusing more on diversification. A greater proportion of multi-strategy funds were launched, rising from 11% in Q2 to 16% in Q3.

The proportion of macro strategies funds also rose significantly between quarters, increasing from 8% to 12% of those launched - perhaps investors are increasingly looking for downside protection.

Meanwhile, just 115 fund searches and mandates for hedge funds on Preqin Pro were initiated by investors in Q3, down from 220 the previous quarter.

The majority (73%) of these investors are expecting to invest less......................

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