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Alternative Market Briefing

Opalesque Roundup: Hong Kong hedge funds lose assets while 'crazy rich' turn to Singapore: hedge fund news, week 39

Monday, October 21, 2019

In the week ending October 18th 2019, a report said that Hong Kong's hedge fund industry saw its biggest quarterly outflow since the global recession a decade ago, a shift that may deepen concern about investor sentiment in the protest-wracked financial hub. Hong Kong hedge funds' US$1 billion redemptions in the Q3 2019 is one of the largest since 2009 global crisis. At the same time, the level of interest from HK family offices and wealthy investors in moving assets to Singapore is "unprecedented", according to a report in Bloomberg.

Meanwhile, a report by Preqin said that hedge funds posted their first negative quarterly return for the year in Q3, 2019 with the Preqin All-Strategies Hedge Fund benchmark losing 0.21%. Among single manager fund types, CTAs produced the highest return (+1.37%), compared with the significant gains of 2.81% made by their multi-manager counterparts, said Preqin.

Investors are wary of making new hedge fund allocations after managers stumbled into their first quarterly loss of the year.

However, the Barclay Hedge Fund Index compiled by BarclayHedge showed hedge funds returned to the black in September, posting an industrywide monthly return of 0.32%. By comparison, the S&P Total Return Index was up 1.87% ......................

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