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Citco-administered fund of hedge funds generate approx $2.5bn in net capital flows in H1 2021

Tuesday, September 28, 2021
Opalesque Industry Update - Fund of hedge funds administered by Citco continued to demonstrate their value as an access to alternatives by delivering positive returns in the first half of 2021, thus continuing their recovery after a solid 2020.

The findings from Citco's H1 2021 Fund of Hedge Fund Update highlight that capital is once again flowing into the sector, with Citco-administered funds generating approximately $2.5B in net capital flows. Although performance for the six months to June was at a more modest pace than the previous cycle, funds returned an average of 4.2% with a median return of 4.3%.

Larger portfolios with greater diversification fared better in the period than smaller and more concentrated funds. Funds over $1B were up 5.1% and funds with over 50 underlying fund holdings returned 5.7% in the first six months of the year. The vast majority of funds delivered positive returns with 92% showing a positive performance in the period.

Although performance for the six months to June was at a more modest pace than the previous cycle, funds returned an average of 4.2% with a median return of 4.3%.

Larger portfolios with greater diversification fared better in the period than smaller and more concentrated funds. Funds over $1Bn were up 5.1% and funds with over 50 underlying fund holdings returned 5.7% in the first six months of the year. Again, similar to 2020, the vast majority of funds delivered positive returns with 92% showing a positive performance in the period.

The strategy continued to attract new capital during the period with approximately $2.5Bn in net capital flows.

Data for this report is based on the universe of Citco administered funds of hedge funds. In order to ensure consistency and meaning to the analysis, funds which contained a highly concentrated portfolio or had assets of less than $30M were excluded.

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