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Opalesque Roundup: Performance pushes hedge fund AUM to record $3.7tn while investors redeem: hedge fund news, week 48

Monday, November 30, 2020

In the week ending November 27th 2020, Preqin reported that hedge fund assets under management (AUM) have finally surpassed pre-COVID-19 levels, pushing to a new industry high of $3,696bn. This record figure can primarily be attributed to improved performance in September (+5.17%, as measured by the Preqin All-Strategies Hedge Fund Benchmark) compared to the YTD return of +5.01%.

Despite this pike in performance, hedge fund industry flows reversed course in September 2020 as the industry's $2.8 billion in redemptions ended a three-month inflow trend. The industry had brought in $5.6 billion in new assets in August. September's outflows represented 0.1% of industry assets, according to the Barclay Fund Flow Indicator published by BarclayHedge.

Several hedge fund strategies have momentum biases, in particular L/S Equity, and CTAs. Because this rotation took place in a bullish environment, most hedge fund strategies ended the week in positive territory, said Lyxor. Directional L/S Equity (+1.2%) benefitted from their market beta, but alpha contributed negatively for all but those strategies with an explicit value bi......................

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