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Key highlights for December 2016:

• Hedge funds were up 4.48% for 2016, posting better performance compared to a modest 1.78% gain over 2015.
• Asset base for the industry contracted US$12.2 billion in 2016, on the back of steep redemption pressure with net outflows totalling US$42.5 billion for the year.
• Asset base for relative value mandated hedge funds expanded 17.28% for the year, growing by US$9.8 billion. Relative value mandated hedge funds gained 6.30% in 2016, with underlying relative value volatility hedge funds up 7.22% over the same period.
• European hedge funds saw US$24.6 billion in investor redemptions in 2016 – the largest net asset outflows on record since 2008.
• CTA/managed futures mandated hedge funds saw the highest net investor inflows among strategic mandates for 2016 (US$12.7 billion). CTA/managed futures ended the year up 1.29% with strength led by underlying commodity-focused hedge funds which gained 6.96% over the same period.
• Investor redemptions hit industry heavy-weights in 2016: billion dollar hedge funds recorded US$52.3 billion of net outflows whilst sub-billion dollar hedge funds saw net inflows of US$9.8 billion.
• Asian managers saw a modest decline in assets for the year as sub-1% returns and US$2.2 billion of investor redemptions weighed on industry AUM. Underlying Greater China mandated hedge funds ended the year in negative territory, declining 4.46%.
• North American hedge funds were up 7.80% for the year, with underlying long/short equities managers appearing as bright spots for the region – gaining 9.18% in 2016. North American long/short equities hedge fund managers posted their strongest quarterly gain in Q3 2016 (+4.47%).

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