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Alternative Market Briefing

Hedge fund assets up 3.5% since end of 2018 despite outflows

Thursday, November 28, 2019

Laxman Pai, Opalesque Asia:

For the sixth consecutive quarter, hedge fund outflows surpassed capital inflows, with the industry losing $34.4bn in the capital during Q3 2019, said Preqin.

Despite the continued drawdowns, positive performance across most top-level hedge fund strategies in 2019 YTD means hedge fund assets under management (AUM) have expanded by 3.5% since the end of 2018.

As of October 2019, the Preqin All-Strategies Hedge Fund benchmark has posted gains to investors of 8.50% and is on track to record its second-highest annual return since 2013.

AUM has slightly dropped from last quarter, with a current value of $3.57tn.

All top-level strategies experienced net outflows in Q3 2019 except for CTAs, niche strategies, and credit strategies. The latter have recorded net inflows of $14.1bn YTD, an increase of 10.2% in AUM - the highest increase of all top-level strategies.

On the other side of the coin, event-driven strategies have seen the greatest outflows, with $15.0bn loss in Q3 2019 and cumulative outflows of -$24.1bn so far this year.

Unsurprisingly, this has led to a net loss in AUM of -7.4% for event-driven strategies funds YTD.

Hedge funds located in all geographic regions experienced outflows in Q3 except for North America, which saw net inflows of $10.6bn.

Europe and Rest of World each recorded investor outflows of $17.9bn while the Asia-Pacific region recorded outflows of $9.3bn.

North America's overall AUM has increase......................

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