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In the week ending October 30th 2020, an eVestment report revealed that the global hedge fund industry saw outflows of -$9.66 billion in September, bringing industry assets under management to $3.161 trillion. In spite of the September outflows, the industry had a positive flows quarter, with +$8 billion in new assets for the third quarter. This marks the first quarterly net inflows since Q1 2018.

Hedge fund managers ended the month of September down 0.72% on an equal-weighted basis, and loss 1.43% on an asset-weighted basis. The weak performance of the global equity market resulted in a negative performance of most fund managers due to the renewed concern surrounding the increasing COVID-19 cases.

Active investment managers across a variety of asset classes and regional exposures followed their historic Q2 returns with continued gains in Q3 2020. Returns were not consistently positive throughout the quarter as losses were the norm in September. The road ahead is filled with uncertainty around US elections and the global response to COVID-19 in the coming months.

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