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B. G., Opalesque Geneva: In 2023, hedge fund assets - as measured by those funds reporting to Aurum's Hedge Fund Data Engine - have grown by $93.2bn since the end of 2022 to stand at $2.9tn. This was driven by net positive performance (+$187.5bn) and partially offset by outflows (-$94.3bn). Equity long/short, multi-strategy and macro led the growth in AuM. Quant was the only category to see a fall in assets.
Aurum Fund Management Ltd is a London-based hedge fund investment specialist focused solely on selecting hedge funds and managing fund of hedge fund portfolios. The firm tracks about 3,400 active hedge funds.
Equity long/short, the largest constituent of the hedge fund universe, was also the strongest-performing strategy in 2023 returning 11.5% on an asset-weighted basis.
The long-biased and higher beta strategies such as event-activist (+20.9%), long-equity (+14.4%), global equity (+14.3%), and long-other (14.2%) performed well thanks to a resurgence in risk assets (assets that have significant price volatility, such as equities, commodities, high-yield bonds, real estate, and currencies). These strategies were among the worst-performing in 2022.
Those strategies that performed strongly in 2022 in the higher volatility regime and risk-asset selloff were among the worst performing in 2023. Arb-Tail...................... To view our full article Click here
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