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Alternative Market Briefing Weekly

Opalesque Roundup: How larger funds of hedge funds made a come back in 2020: hedge fund news, week 15

Saturday, April 17, 2021

In the week ending April 16th 2021, new data from Citco revealed that 2020 was a surprisingly good year for fund of hedge funds. Fund of hedge funds delivered an average return for the year of 11.2% with the median return at 9.9%. The year was especially good for larger funds. All funds above $500 million in assets registered a positive year and the average return of funds over $1bn was 11%.

Meanwhile, the hedge fund industry continued its positive run in March returning 1.23% for a fifth consecutive month in the black, according to the Barclay Hedge Fund Index compiled by BarclayHedge. By comparison the S&P 500 Total Return Index gained 4.38% during the month. For the year to date, the hedge fund industry was up 4.93% through the end of March. The S&P 500 Total Return Index returned 6.17% over the same period.

The Eurekahedge Hedge Fund Index was up 0.95% in March 2021, supported by the robust performance of the global equity market as represented by the MSCI ACWI (Local) which gained 3.24% over the same period. Long-dated US treasuries continued to sell off, resulting in the yield of the 10-year treasury note rising by 34bp to end the month at 1.744%.

In the meantime, the AIMA Hedge Fund Confidence Index (HFCI) is a new global index which measures the level of confidence that hedge funds have in the economic prospects of their business over the next 12 months. AIMA announced that according to the March 2021 HFCI, over 90% of participants cited a positive confidence measure when......................

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