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Bailey McCann, Opalesque New York: Hedge fund performance was positive in August according to new data from Citco. That marks four consecutive months of positive performance for the asset class. Overall year-to-date returns could enter the double digits if hedge funds can keep the positive run going through the end of September.
Hedge funds administered by Citco
achieved an overall weighted average return of 1.1% in August,
taking YTD returns to 9.5%. Equity strategies were the top performers in August with a weighted
average return of 1.7%, making it four months of positive returns since
the decline in April. Global macro strategies were next, at 1.4%, followed
by Fixed income arbitrage at 0.9% and Multi-strategy funds at 0.7%.
Funds with more than $3bn
of AUA, and those with between $1bn-$3bn of AUA, achieved weighted
average returns of 1.2% in August, followed by funds with between
$200m-$500m of AUA at 1%. Funds with between $500m-$1bn of AUA,
alongside those with under $200m of AUA, came in at 0.2% for the
month.
Investors flows went to multi-strategy and hybrid funds for the second month in a row. The duo have now seen net inflows of nearly $20bn combined so far this year, with Multi-Strategy funds at $7.9bn
and Hybrid funds at $12bn.
For other strategies, building on July's inflows of $3.3bn, August saw $2.3bn of net inflows overall as subscriptions of $9.8bn outdid redemptions of $7.5bn.
Once again, funds in the Americas and Europe saw net...................... To view our full article Click here
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