Hedge fund industry assets under management (AUM) reached an all-time high at the end of 2019, with performance gains helping to offset negative capital flows and push total assets to $3.66tn, the industry has grown by 5.9% since the end of 2018.

According to Preqin, Q4 outflows of $15.4bn marked a fitting end to a year of net outflows in all four quarters, totali