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In the week ending April 24th 2020, two reports revealed that global hedge fund assets dropped below $3 trillion for the first time since April 2014, hit by client withdrawals and investment losses amid the March market rout.

HFR said that total global hedge fund capital fell below $3.0 trillion in 1Q20 for the first time since 3Q 2016, as financial market volatility surged on uncertainty and increased risks driven by the global coronavirus pandemic. Hedge fund capital declined by $366 billion to end the quarter at $2.96 trillion, a steep decline from the prior quarter record of $3.32 trillion.

Also Vestment said that large performance losses resulted in total industry AUM falling below $3 trillion for the first time since April 2014. It also said that investors redeemed an estimated $24.1 billion from hedge funds in March. Outflows offset Jan/Feb allocations shifting YTD flows to negative $8.0 billion, it added.

Preqin pointed out that hedge funds recorded a larger loss in March than they did at the height of the global financial crisis. The Preqin All-Strategies Hedge Fund benchmark lost 8.96%, compared to February's return of -2.34%. The level of losses was worse than in September (-6.66%) and October (-8.10%) of 2008.

In new launches, the global credit investment firm HPS Investment Partners announced the closing of its second European Asset Value Fund (EAVF II) with more than $1.5 billion of capital; Billionaire Chris Rokos has reopened his......................

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