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Alternative Market Briefing

Hedge funds attract $6.39bn of new capital to start 2021

Friday, February 26, 2021

Laxman Pai, Opalesque Asia:

Hedge funds attracted USD6.39 billion of new capital last month as investors piled into a wide variety of strategy types, particularly macro and managed futures, said eVestment.

According to the just-released eVestment January 2021 Hedge Fund Asset Flows Report, January inflows are not uncommon for the hedge fund business, as eVestment data going back to 2010 shows only four times (2015, 2016, 2017, and 2019) January saw negative flows.

However, coming off three consecutive years of annual outflows were almost $200 billion left the industry, January's positive number will be welcome news to many in the hedge fund business.

Most of the other primary strategies eVestment tracks were in the green for flows in January, with Directional Credit, Multi-Strategy, and Event-Driven funds each pulling in more than $1 billion in new money. Convertible Arbitrage and Distressed funds were also positive for January, but just barely.

Market Neutral Equity, at -$220 million, and Relative Value Credit, at -$1.61 billion, were the two other primary strategies eVestment tracks, along with Long/Short Equity funds, to see overall negative investor flows in January.

In what could be a sign of investor concerns about the state of equity and credit markets heading into 2021, Macro and Managed Futures hedge funds both saw big inflows in January, at +$3.07 billion and +$2.15 billion respectively. These two fund types were the big asset winners in January am......................

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