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Alternative Market Briefing

Hedge fund optimism on the rise amid double-digit returns

Wednesday, July 07, 2021

Laxman Pai, Opalesque Asia:

Amid double-digit returns and increasing assets under management, hedge fund managers have grown even more optimistic about their business prospects over the next 12 months.

According to the second quarter Hedge Fund Confidence Index (HFCI) from AIMA, Simmons & Simmons, and Seward & Kissel, the average measure of confidence has risen to +19.5, up from an average of +18.4 in Q1.

Based on a survey of more than 300 hedge funds accounting for approximately USD1 trillion in assets, respondents are asked to choose from a range of -50 to +50, where +50 indicates the highest possible level of economic confidence over the next 12 months.

Confidence is also up significantly from +13.8 in the fourth quarter, according to the index.

Over 90 percent of the hedge funds reported "a positive confidence" for the next 12 months, buoyed by the rollout of Covid-19 vaccinations in the U.S. and U.K, and as investors grew hopeful about the pandemic's end.

Regionally, all funds surveyed displayed higher confidence compared to three months ago, with the highest levels of confidence (+22.5) seen among North America-based hedge funds. Hedge funds in the APAC region followed with +18.2, while EMEA funds (including those from the UK) scored 17.7.

Separating funds by size, those managing more than US$1 billion in assets represented 48% of the total number of responses. That group of larger firms expressed high confidence levels at +21.1, while smalle......................

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