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B. G., Opalesque Geneva: Based on a sample of 389 hedge funds (accounting for approx. US$3tn in assets) that participated in the AIMA's Hedge Fund Confidence Index for Q3 2022, the average measure of confidence is +25.4 - up from +17.8 in Q2 - the highest average confidence score recorded since the HFCI began in 2020.
The study measures confidence in the economic prospects of hedge funds' business over the coming 12 months.
"Amid increasing turbulence across financial markets, hedge funds are reasserting their value proposition among investors who crave capital preservation and portfolio diversification," said Tom Kehoe, Global Head of Research and Communications at AIMA.
"Headwinds remain in the form of new regulatory and compliance demand, particularly coming out of the US as well as higher inflation levels and interest rate tightening, both likely to impede on a firm's ability to manage their business."
For the third successive quarter, larger fund managers expressed the highest levels of confidence, posting nearly two points higher than smaller managers.
Firms that demonstrated the highest levels of confidence were EMEA (excl. UK) based fund managers, with those in the Middle Eastern reporting an average score of +31, almost eight points higher than the average score reported by North American based funds. In the Middle East and Europe, macro funds and multi-strategy funds enjoyed the highest confidence levels.
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