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Hedge funds have maintained their strong performance since end-March supported by equity market recovery

Tuesday, September 29, 2020
Opalesque Industry Update - Hedge fund managers ended August 2020 up 2.02% on an equal-weighted basis, and 1.43% on an asset-weighted basis, driven by the strong performance of the global equity market as seen from the 5.54% return of MSCI ACWI (Local) over the same period.

On a year to date basis, global hedge funds were up 4.07% over the first eight months of 2020.

The Eurekahedge Hedge Fund Index was up 1.85% in August, bringing its year-to-date return to 3.79% and its five-month trailing return to 12.85% since end-March.

Over the month of August, US$8.3 billion of investor inflows on top of US$9.6 billion of performance-driven gains were recorded by the global hedge fund industry.

Total assets under management increased by US$17.9 billion during the month - the sector witnessed performance-based gains of US9.6 billion while registering net asset inflows of US$8.3 billion.

The total size of the industry now stands at US$2,181.4 billion.

Risk assets reacted positively to the encouraging development of the COVID-19 vaccine and improving macroeconomic data.

In the US, the deceleration of the spread of COVID-19 and the Fed's announcement on adopting a new inflation framework that could keep its policy rate lower for a longer period boosted the region's equity market during the month.

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