FAIRFIELD, IOWA AUGUST 10, 2022…
Most Hedge Fund Subsectors Lose Money and Investor Capital in May
Despite Recent Outperformance, Subscriptions to CTAs Apparently Slowing Hedge Fund redemptions accelerated slightly in May to -$27.53 billion (-0.54% of industry assets), up from -$22.40 billion a month earlier. A -$26.36 billion trading loss in May brought total Hedge Fund industry assets to $5.07 trillion as the month ended. …
Hedge Fund Performance: A Quantitative Survey
Written by: Fan Yang, Tomas Havranek, Zuzana Irsova, Jiri Novak Abstract We provide the first quantitative survey of the empirical literature on hedge fund performance. We examine the impact of potential biases on the reported results. Empirical analysis in prior studies has been plagued by fragmentation of underlying data and by limited consensus on how hedge fund performance should be measured. Using a sample of 1,019 intercept terms from regressions of hedge fund returns on risk factors (the “alphas”) collected from 74 studies published between 2001 and 2021 we show that inferences about hedge fund returns are not significantly contaminated by publication selection bias. Most of our monthly alpha estimates adjusted for the (small) bias fall within a relatively narrow range of 30 to 40 basis points. Considering several partitions of our sample, we document a modest publication bias only for estimates based on instrumental variables (IV), for which relatively large standard errors are common and that tend to be less precise. In contrast, studies that explicitly control for the potential biases in the underlying data (e.g. the backfilling bias and the survivorship bias) report lower alphas. Our results demonstrate that despite the prevalence of the publication selection bias in numerous other research settings, publication may not be selective when there is no strong a priori theoretical prediction about the sign of estimated coefficients, which may induce greater readiness to publish statistically insignificant results.…
Hedge Funds Experience Redemptions of $22 Billion in April
CTAs Continue to See Inflows Which Push Assets to New All-Time High of $380.59 Billion Hedge fund redemptions slowed somewhat in April though the trend continued. The month’s outflows totaled $22.40 billion, 0.44% of industry assets, a reduction from the $35.37 billion in outflows the industry experienced in March. A $131.83 billion trading loss during the month brought total hedge fund industry assets to nearly $5.11 trillion as April ended. …
2022 Survey of the Top 50 Hedge Funds
Hedge Fund Investing During a Time of War Like the 2020 edition, this year’s survey collides with a seismic event — a geopolitical shock wrapped around soaring inflation, rising interest rates, and weakened supply chains. Several key takeaways: Over the past five years through 2021, the Top 50 hedge funds collectively generated net annualized returns that trailed a red-hot S&P 500 by just several percentage points, but did so with significantly less risk. The group’s largely uncorrelated returns produced a 5-year Sharpe Ratio that was more than 60 bps higher than the market. Equity, multistrategy, and credit funds led the way, and nearly half of the Top 50 were smaller funds, managing less than $1 billion. As was shown in the 2020 survey, the current Top 50 funds have again preserved capital better than the S&P 500 during the first quarter drawdown. They delivered positive returns, having outpaced a declining market by more than 7 percentage points through March. This year’s survey includes interviews with leading managers and allocators from Citadel, Amundi, Generali, EFG International, NS Partners, along with six hedge fund managers who made this year’s Top 50.…
Decentralized Finance, Crypto Funds, and Value Creation in Tokenized Firms
Written by: Douglas Cumming, Niclas Dombrowski, Wolfgang Drobetz, Paul P. Momtaz Abstract Crypto Funds (CFs) represent a novel investor type in entrepreneurial finance. CFs intermediate Decentralized Finance (DeFi) markets by pooling contributions from crowd-investors and investing in tokenized startups, combining sophisticated venture- and hedge-style investment strategies. We compile a unique dataset combining token-based crowdfunding (or Initial Coin Offerings, ICOs) data with proprietary performance data of CFs. CF-backed startup ventures obtain higher ICO valuations, outperform their peers in the long run, and benefit from token price appreciation around CF investment disclosure in the secondary market. Moreover, CFs beat the market by roughly 2.5% per month. Their outperformance is persistent, suggesting that CFs deliver abnormal returns because of skill, rather than luck. These performance effects for CFs and CF backed startups are driven by a fund’s investor network centrality. Overall, our study paves the way for research on what some refer to as the “crypto fund revolution” in entrepreneurial finance.…
Are Investors Finally Ready to Tap the Brakes on Their Hedge Fund Allocations?
Managed Futures Funds Continued Absorbing Investor Capital, Albeit at a Slower Rate Hedge fund net redemptions accelerated in March totaling -$35.37 billion, a reduction of -0.70% of industry assets. March’s outflows follow -$3.19 billion in redemptions in February. Nevertheless, a combination of new market entrants and an aggregate $18.24 billion trading gain for the month brought total industry assets to nearly $5.14 trillion as March ended. …
Managed Futures Industry Celebrates Broad-Based Gains Again in April
Returns 2.42% on the Month and 7.85% On the Year
FAIRFIELD, IOWA MAY 12, 2022…
Hedge Fund Investment in ETFs
Written by: Douglas Cumming, Pedro Monteiro Abstract This paper examines the causes and consequences of hedge fund investments in exchange traded funds (ETFs) using U.S. data from 1998 to 2018. The data indicate that transient hedge funds and quasi-indexer hedge funds are substantially more likely to invest in ETFs. Unexpected hedge fund inflows [outflows] cause a rise [reduction] in ETF investments, and the economic significance of unexpected flow is more than twice as large for transient than quasi-indexer hedge funds. Expected hedge fund flows are statistically unrelated to ETF investments on average. When ETF investment is accompanied by an increase in unexpected flow, hedge fund alphas are higher. When ETF investment is accompanied by an increase in expected flow, hedge fund alphas are lower. The data are consistent with the view that hedge fund ETF investment unrelated to unexpected flow is an agency cost of delegated portfolio management.…
New Entrants Push Global Hedge Fund Industry Over $5 Trillion Threshold Despite February Shunting
Managed Futures Funds Suddenly Back in Vogue and in the Money The hedge fund industry was unable to build much momentum on January’s net inflows. February saw broad trading losses and redemptions that collectively led to marginal net outflows of -$3.19 billion and a reduction in industry assets of -0.07%. Nevertheless, BarclayHedge’s model indicated an increase in industry AUM to $5.04 trillion—a result driven by a significant number of funds coming online in the first months of the year. However, things looked very different in managed futures funds’ corner of the world in February. CTAs swung back to net inflows with net inflows totaling +$2.93 billion, increasing industry assets by nearly a percentage point. Moreover, industry inflows were buoyed by increasing interest in all four CTA subsectors.…
The All-Weather Portfolio Approach: The Holy Grail of Portfolio Management
Written by: Youssef Louraoui Abstract This research article aims to analyze the All-Weather strategy advocated by the very famous hedge fund manager Ray Dalio. Through an analysis of nearly 10 year of market data, we have selected ETF funds to replicate the investment principle by using a classic approach. We present the different results that suggest an overall performance that converge with the original analysis proposed in the Bridgewater Associates (2009) research paper that shows the benefits of the All Weather approach on the overall portfolio risk/return trade-off.…
Hedge Funds Continue Winning Investor Favor, Raking in Another $11.29 Billion in January
January Investor Behavior Strikes Cautiously Optimistic Tone The hedge fund industry resumed attracting capital in January, scooping up $11.29 billion in new assets, good for an increase of 0.24% in total industry assets. A -$117.92 billion trading loss for the month left total industry assets at the $4.80 trillion mark as January closed. “End of year profit-taking, tax-harvesting and rebalancing in December 2021 broke an impressive nine-month run of net inflows to the hedge fund industry. Happily, January marked a return to net inflows, albeit in a somewhat more circumspect manner: Investors gave over an additional $11.29 billion to managers on the month,” observed Ben Crawford, Head of Research at BarclayHedge. “It is notable, however, that January 2022’s net inflows were less than 40% of the industry’s uptake a year ago and also well below the mean monthly inflow from 2021.”…
2021 Global Survey of the Top 50 Hedge Funds: Q4 Update
Fourth Quarter Market and Performance Update The S&P 500 soared nearly 29% in 2021, nearly half of which was generated just in the 4th quarter in spite of clear threats to growth. It was during these last 3 months of the year when the gap between the index and the Top 50 Hedge Funds drastically expanded from nearly 5% to more than 18%. While most of the 50 sustained their historical annualized returns, two basic factors drove last year’s performance gap. One: the 10 largest contributors to the S&P 500’s returns were responsible for more than one-third of the index’s total gains. Two: the reversal in fortunes suffered by a handful of veteran hedged equity and global macro managers who had a long history of consistent solid returns. This report will explore why this occurred. Note: two thirds of the 4th-quarter gains linked to the index's top contributors’ were lost during the first 7 weeks of 2022 —before Russia invaded Ukraine.…
Hedge Fund Industry Significantly Outperforms Broad Markets Through a Dreadful Start to 2022
FAIRFIELD, IOWA MARCH 15, 2022…
Which Investors Drive Factor Returns?
Written by: Morad Elsaify Abstract Different investors hold different portfolios. To explain this phenomenon, I build a model in which investors have different information processing capabilities. The model predicts that highly capable investors specialize in factor timing, hold more volatile and dispersed portfolios, and reduce average risk premia and volatility. Using novel empirical measures of investors’ capabilities and information choices, I find that hedge funds are the most capable investors, while insurance companies and pension funds are the least. Variation in factor timing ability is the primary driver of these differences. Investors’ portfolios exhibit properties consistent with the model’s predictions. Using a demand system approach, I show that hedge funds have the greatest per-dollar impact on expected returns, shrinking expected returns in the factor zoo by nearly 40% per $1 trillion of invested capital.…
$39.8 Billion in December Profits Elevate Industry AUM to Record $4.80 Trillion
December Hedge Fund Outflows Merely Accentuate a Year of Spectacular Investor Interest After nine consecutive months of inflows, the hedge fund industry saw funds flow out of the sector in December with -$20.4 billion in net redemptions. December’s redemptions represented -0.44% of hedge fund industry assets. A $39.8 billion trading profit in December brought total industry assets to nearly $4.80 trillion at year end.…
Anti-Herding by Hedge Funds, Idiosyncratic Volatility and Expected Returns
Written by: Sara Ali, Ihsan Badshah, Riza Demirer Abstract Utilizing a dataset of 1,899 U.S. hedge funds, we present evidence of anti-herding behaviour among hedge fund managers in the U.S. Hedge funds anti-herd primarily based on fundamental information and irrespective of market volatility and credit deterioration conditions although funding illiquidity has a stronger effect on the formation of anti-herding behaviour across the majority of hedge fund schemes analysed. Interestingly, however, we observe a greater deal of heterogeneity across the different hedge fund categories, particularly during crisis periods, with certain hedge fund schemes including Convertible Arbitrage, Equity Market Neutral and Fixed Income Arbitrage experiencing herding driven by the COVID-19 induced market uncertainty. More importantly, we document significant economic implications of anti-herding and show that hedge funds associated with high degree of anti-herding earn significantly higher excess returns over those with low degree of anti-herding, particularly in the intermediate and long horizons up to one year. At the same time, hedge funds that anti-herd experience greater idiosyncratic volatility in subsequent periods, presenting a novel perspective to the relationship between anti-herding, idiosyncratic volatility and expected returns. While the finding of antiherding in the hedge fund industry is not unexpected as the main attraction of hedge funds is to devise proprietary trading strategies that is based on private information, our findings provide novel insight to the link between idiosyncratic volatility and expected returns in the context of anti-herding in the hedge fund industry.…
Managed Futures Funds Shine Despite Gloomy Start to 2022
Crypto and Digital Asset Managers Caught Up in Technology Market Bloodletting
FAIRFIELD, IOWA FEBRUARY 15, 2022…
Nine Consecutive Months of Positive Net Inflows Push Hedge Fund AUM to $4.69 Trillion Mark
Global Hedge Fund Assets Reach $4.69 Trillion in November as Most Regions See Inflows The hedge fund industry extended its monthly inflow streak to nine consecutive months in November bringing in $19.3 billion in new assets. November’s inflows represented 0.41% of hedge fund industry assets. With the addition of November’s inflows, the hedge fund industry has added $199.8 billion in new assets over the nine-month period. A trading loss of nearly -$40.0 billion during the month brought total industry assets to nearly $4.69 trillion as November ended.…
Hedge Funds Wrap 2021 with a 1.26% Gain in December and a 10.32% Return on the Year
27 of 30 Hedge Fund Subsectors in the Black for 2021
FAIRFIELD, IOWA JANUARY 14, 2022…
Rapid Rebound from September Losses Stokes Continuing Investor Interest in Hedge Funds
$4.66 Trillion Industry Rewarded with $26.5 Billion More to Manage The hedge fund industry posted inflows for an eighth consecutive month in October, attracting $26.5 billion in new assets, equivalent to a 0.59% jump in industry assets. Over the eight-month run, Hedge Funds have packed on a total of $180.5 billion in new AUM. $44.0 billion in monthly trading profits pushed total hedge fund industry assets to more than $4.66 trillion as October ended.…
2021 Hedge Fund Survey - Q3 Update
Third quarter volatility ended up sending many trends sideways, leaving the market and the hedge fund industry flat for the period. Meanwhile, hedged equity, macro, and emerging market managers helped the Top 50 funds add nearly two full percentage points during the quarter. This select group outperformed the BarclayHedge average hedge fund return by 2.3% through the first 9 months of 2021, narrowing the amount by which it trails the market.…
Swoon Begone! Hedge Funds Return to Winning Ways with 1.68% Gain in October
Industry as a Whole Up in 11 of Last 12 Months
The hedge fund industry shook off September’s swoon in October, posting a 1.68% return for the month, according to the Barclay Hedge Fund Index compiled by BarclayHedge, a division of Backstop Solutions.…
Managed Futures Funds Bank a Solid 0.92% Return in October
CTAs Up an Average of 6% Overall in 2021
Managed Futures funds gained some steam in October, returning 0.92% for the month. October’s gains contributed to a +6.00% year-to-date return for the industry through the end of the month, both facts according to the Barclay CTA Index, compiled by BarclayHedge, a division of Backstop Solutions.…
Hedge Fund Allocations Soar, Borne of Both Greed and Fear
CTAs See Modest Net Redemptions but Maintain Inflows Over the 12-Month Period
The hedge fund industry continued to attract new assets in August with $30.5 billion in inflows. August’s inflows represented 0.69% of industry assets, according to the Barclay Fund Flow Indicator published by BarclayHedge, a division of Backstop Solutions.…
Hedge Funds Break 10-Month Streak of Gains with a -1.22% Loss in September
Industry Outperforms S&P 500 in September and Remains Well in the Black for the Year
The hedge fund industry fell victim to its own September Swoon, losing -1.22% during the month, according to the Barclay Hedge Fund Index compiled by BarclayHedge, a division of Backstop Solutions. September’s loss broke a streak of 10 consecutive months of hedge fund industry gains.…
2021 Hedge Fund Survey - Mid-Year Update
The 2021 hedge fund survey published in June, which ranked the 50 top-performing funds over the trailing five years through 2020, found as a group they continued to outperform their peers and kept pace with the market during the first quarter. Through the 2nd quarter, the Top 50 again outperformed the hedge fund industry, led by distressed securities and hedged equity managers. But a relentless bull market surged ahead, ignoring inflation fears, unanticipated rise in 10-year Treasury prices, a flattening yield curve, and a rising dollar--factors that weighed on fixed-income, credit and macro strategy returns.…
Investors Plow Another $18.3 billion into Hedge Funds in July Pushing Industry AUM to $4.40 Trillion
Managed Futures Funds Return to Winning Ways--Pick Up $920 million in New Capital
The hedge fund industry continued adding to assets in July with $18.3 billion in inflows. July’s inflows represented 0.4% of industry assets, according to the Barclay Fund Flow Indicator published by BarclayHedge, a division of Backstop Solutions. August marked the industry’s fifth consecutive month of inflows, coming on the heels of $16.6 billion in June, $36 billion in May, $23.3 billion in April and $19.1 billion in March.…
Bipolar Cryptocurrency Markets Return to Mania, up 17.71% in August
CTA Industry Grinds Out 0.17% Gain in August, Nudging Barclay CTA Index to 4.89% on the Year
Managed futures funds built on July’s gains in August, advancing 0.17% for the month, according to the Barclay CTA Index, compiled by BarclayHedge, a division of Backstop Solutions. August’s return brought the CTA sector’s year-to-date return to 4.89% through the end of the month.…
Hedge Funds Extend Winning Streak into Double Digits with 1.23% Gain in August
28 out of 30 Hedge Fund Sectors in the Black in August and for 2021 Overall
The hedge fund industry generated an average return of 1.23% in August, which may have pushed its winning streak into double-digits, according to the Barclay Hedge Fund Index compiled by BarclayHedge, a division of Backstop Solutions.…
Hedge Fund Industry’s AUM Swells to a Staggering $4.32 Trillion in June
Investors diverted an additional $16.6 billion to hedge funds in June. The month’s inflows represented 0.4% of assets and continued an inflow trend that saw $36 billion in new assets in May, $23.3 billion in April and $19.1 billion in March, according to the Barclay Fund Flow Indicator published by BarclayHedge, a division of Backstop Solutions.…
Hedge Funds Eke Out a 9th Consecutive Month of Gains with a 0.07% Return in July
Emerging Markets in Asia and Latin America Hammered by Global Uncertainty
The hedge fund industry tallied its 9th straight month of gains in July with an overall return of 0.07%, according to the Barclay Hedge Fund Index compiled by BarclayHedge, a division of Backstop Solutions. By comparison, the S&P 500 Total Return Index gained 2.38% in July. For the year to date interval, the Barclay Hedge Fund Index was up 8.95% as of the close of July versus 17.99% for the S&P 500 Total Return Index.…
All Managed Futures Sectors Pick Up Wins in July as the Barclay CTA Index Gains 0.37%
CTAs Ride Economic Momentum and Dodge Struggles Seen in Some Emerging Markets
Managed futures funds returned to a monthly gain in July advancing 0.37% for the month, according to the Barclay CTA Index, compiled by BarclayHedge, a division of Backstop Solutions. The monthly performance allowed CTAs to add to their year-to-date gains as they returned 4.91% through July.…
Growth in Hedge Fund Assets Accelerates as Net Inflows Leap Nearly 55% Month-over-Month
CTAs March on to Seventh-Straight Month of Positive Net Flows with $3.3 Billion Pickup in May
Investors poured another $36 billion into hedge funds in May, adding nearly a percentage point of growth to industry assets. May marked the third consecutive period of net inflows in what appears to be an accelerating trend. The Barclay Fund Flow Indicator published by BarclayHedge, a division of Backstop Solutions, shows $19.1 billion in net inflows in March, a 22% jump in April ($23.3 billion) followed by a nearly 55% leap in May.…
Uncertainty Begins to Cloud Brightening Economic Narrative; Barclay CTA Index Sheds -0.18% in June but Up 4.69% YTD
Rocked by Both Washington and Beijing, Crypto Rout Continues: Down Another -7.35% in June
Managed futures funds reversed course in June losing -0.18% following four consecutive months in the black, according to the Barclay CTA Index, compiled by BarclayHedge, a division of Backstop Solutions. The year-to-date picture remained positive, however, with CTAs up 4.69% cumulatively through June.…
Alpha Capture Systems: Past, Present, and Future Directions
Written by Francois-Serge Lhabitant and Denis Mirlesse for EDHEC Business School…
Reports of the Death of the Tech Bull-Run Exaggerated; BarclayHedge Index Compounded Return of 8.95% YTD
Every Subsector of the Hedge Fund Industry in the Black through June 2021, According to Backstop BarclayHedge
The hedge fund industry continued its winning ways in June, returning +0.88% on the month, according to the Barclay Hedge Fund Index compiled by BarclayHedge, a division of Backstop Solutions. This marks the eighth consecutive month of positive results for hedge funds. On a year-to-date basis, the Barclay Hedge Fund Index shows a compounded return of +8.99%.…
Hedge Fund Assets Grow Nearly 40% YoY After Posting $23.3 Billion in April Net Inflows
All CTA Sectors Grow YoY; Industry Assets Up Nearly 19% Since April 2020
Net Inflows of $23.3 billion in April signaled a continued vote of investor confidence in the hedge fund industry. This result represented an increase in industry AUM of .6% on the month and built momentum on the previous month’s $19.1 billion increase in hedge fund assets, according to the Barclay Fund Flow Indicator published by BarclayHedge, a division of Backstop Solutions. Industry trading profits exceeded $55.5 billion in April and carried the industry’s aggregate AUM figure past the $4.18 trillion mark.…
Managed Futures Funds Advance Solidly in May Despite Uneasiness Elsewhere
May Sees Crypto Assets Shed a Trillion Dollars’ Worth of Market Cap
Managed futures funds ground out another solid batch of returns this month, yielding 0.81% and making May the fourth period in a row of gains for the CTA industry. For the year-to-date interval, CTAs have earned their investors a return of 4.85% according to the Barclay CTA Index, compiled by BarclayHedge, a division of Backstop Solutions.…
Hedge Funds Score Seventh Consecutive Month in the Black with 1.08% Returns in May
All BarclayHedge Hedge Fund Indices Positive for 2021
The hedge fund industry notched its seventh consecutive month in the black, posting a 1.08% return for the month of May, according to the Barclay Hedge Fund Index compiled by BarclayHedge, a division of Backstop Solutions. In aggregate hedge funds outpaced the S&P 500 Total Return Index by 38 basis points on the month.…
March Trading Profits and Inflows Propel Hedge Fund Assets Under Management to a Record High of $4.07 Trillion
Hedge funds saw $19.1 billion in new assets flow into the industry in March. Coupled with a $28.5 billion monthly trading profit, total hedge fund industry assets rose to more than $4.07 trillion as March ended, a new record high.…
Barclay CTA Index Returns 1.43% in April, According to Backstop BarclayHedge
Commodity Prices Surge, Equity Markets Continue to Rise and Managed Futures Funds Reap the Benefits
Managed futures funds produced a third straight positive month in April returning 1.43%, according to the Barclay CTA Index, compiled by BarclayHedge, a division of Backstop Solutions. For the year to date, CTAs returned 3.80% through April.…
Hedge Funds Return 2.14%, Up 7.06% Year to Date, According to Backstop BarclayHedge
All Hedge Fund Sectors but One in the Black for the Month as Economic Indicators Suggest the Recovery Is Gaining Speed
The hedge fund industry added to its gains in April, returning 2.14% as the industry posted a sixth consecutive month in the black, according to the Barclay Hedge Fund Index compiled by BarclayHedge, a division of Backstop Solutions. By comparison the S&P 500 Total Return Index gained 5.34% in April.…
Hedge Funds Experience $9.0 Billion in Redemptions in February as Investors Respond to Late 2020 COVID-19 Surge and Accompanying Economic Fallout
Hedge fund flows reversed course in February with $9.0 billion in redemptions, following $30.5 billion in industry inflows a month earlier.…
Barclay CTA Index Gains 0.32% in March, According to Backstop BarclayHedge
Inflation Concerns Drag US Interest Rates Higher, But Investors Continue to Purchase Shares and Propel Equity Markets to Record Levels
Managed futures funds turned in a second consecutive monthly gain in March returning 0.32%, according to the Barclay CTA Index, compiled by BarclayHedge, a division of Backstop Solutions. For the year to date, CTAs returned 2.29% through March.…
Hedge Funds Return 1.23% in March, Up 4.93% Year to Date, According to Backstop BarclayHedge
Encouraging Economic Indicators Fuel Equity Markets and Lead to Monthly Gains for Most Hedge Fund Sectors
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, a division of Backstop Solutions. By comparison the S&P 500 Total Return Index gained 4.38% during the month.…
Hedge Funds Experience $30.5 Billion in January Inflows as Investors Respond to Growing Optimism About the Pace of Economic Recovery
The hedge fund industry started 2021 strong with $30.5 billion in inflows, following a December with nearly balanced flow activity that saw $42.6 million in redemptions.…
Diverse Hedge Funds
Click the link below to view an abstract of this month's featured industry research.…
Barclay CTA Index Gains 1.76% in February, According to Backstop BarclayHedge
Managed Futures Post a Positive Month as Commodities and Stock Indices Rally
Managed futures funds posted a positive month in February gaining 1.76%, according to the Barclay CTA Index, compiled by BarclayHedge, a division of Backstop Solutions. For the year to date, CTAs returned 1.68% through the end of February.…
Hedge Funds Return 2.68% in February, Up 3.76% Year to Date, According to Backstop BarclayHedge
Encouraging Signs of Economic Recovery Boost Investor Confidence as Nearly All Sectors Post Monthly Gains
The hedge fund industry continued its positive run in February, returning 2.68% for the month, according to the Barclay Hedge Fund Index compiled by BarclayHedge, a division of Backstop Solutions. By comparison, the S&P Total Return Index gained nearly 2.76% in February.…
Barclay CTA Index Dips .02% in January, According to Backstop BarclayHedge
Profits in Commodity and Equity Markets Insufficient to Overcome Losses in U.S. Treasuries
CTAs were unable to extend their two-month winning streak into the New Year as January performance dipped 0.02% for the month according to the Barclay CTA Index compiled by BarclayHedge, a division of Backstop Solutions.…
Hedge Funds Return 0.98% in January, According to Backstop BarclayHedge
Most Sectors Post Gains as Hedge Funds Outperform S&P 500
Hedge funds started 2021 on a positive note returning 0.98% in January, according to the Barclay Hedge Fund Index compiled by BarclayHedge, a division of Backstop Solutions. By comparison, the S&P 500 Total Return Index was down 1.01% in January.…
Hedge Funds Add $14.0 Billion in Inflows for November, Picking Up the Pace from October; According to Backstop BarclayHedge
Investors take comfort from positive economic indicators
The hedge fund industry posted a second consecutive month of inflows in November, adding $14.0 billion in new assets during the month. November’s inflows marked a significant increase over the $5.2 billion in new assets the industry added in October.…
Barclay CTA Index Gains 2.49% in December, 5.18% for 2020, According to Backstop BarclayHedge
The risk on trade re-emerges as investor optimism returns to the driver’s seat
Managed futures funds finished 2020 with another positive month and gained 2.49% in December, according to the Barclay CTA Index, compiled by BarclayHedge, a division of Backstop Solutions. For the year, CTAs returned 5.18%.…
Hedge Fund Industry Returns 3.29% in December and Ends the Year Up 10.95%, According to Backstop BarclayHedge
Three of the past four years ended with double-digit gains for hedge funds
The hedge fund industry posted a second consecutive positive month in December, returning 3.29% according to the Barclay Hedge Fund Index compiled by BarclayHedge, a division of Backstop Solutions. By comparison, the S&P 500 Total Return Index was up 3.84% in December.…
Hedge Funds See $5.2 Billion in Inflows in October, Reversing Course from September’s Redemptions, According to Backstop BarclayHedge
Strong equity market performance, favorable economic indicators bring investors back to hedge funds
The hedge fund industry returned to monthly inflows in October, bringing in $5.2 billion in new assets for the month. The industry had experienced $2.8 billion in redemptions in September.…
Barclay CTA Index Returns 1.38% in November, According to Backstop BarclayHedge
New all-time highs in equity markets joined with uptrends in industrial metals, energy and crop markets to set the stage for a profitable month
Managed futures funds broke a two-month slump in November, posting a 1.38% return for the month, according to the Barclay CTA Index, compiled by BarclayHedge, a division of Backstop Solutions. For the year-to-date, CTAs were up 2.60% through November.…
Hedge Fund Industry Returns 5.54% in November, According to Backstop BarclayHedge
Historic equity market performance, encouraging COVID-19 vaccine news help hedge fund industry to positive month after back-to-back monthly losses
The hedge fund industry reversed two consecutive months of losses in November, returning 5.54% for the month, according to the Barclay Hedge Fund Index, compiled by BarclayHedge, a division of Backstop Solutions. By comparison, the S&P 500 Total Return Index was up 10.9% for November.…
Hedge Funds See $2.8 Billion in Redemptions in September, Snapping Three-Month Inflow Streak, According to Backstop BarclayHedge
Investors pull back amid growing COVID-19 case counts and fears of a new economic slowdown
Hedge fund industry flows reversed course in September as the industry’s $2.8 billion in redemptions ended a three-month inflow trend. The industry had brought in $5.6 billion in new assets in August.…
Barclay CTA Index Loses 0.30% in October, According to Backstop BarclayHedge
Weakness in global equity markets coupled with a decline in the value of the U.S. dollar contributed to monthly losses for most CTA sectors
Managed futures funds posted a second straight losing month in October, down 0.30% for the month, according to the Barclay CTA Index, compiled by BarclayHedge, a division of Backstop Solutions. For the year-to-date, CTAs were up 1.53% through October.…
Hedge Fund Industry Loses 0.11% in October, According to Backstop BarclayHedge
Spiking COVID-19 infection rates, new government lockdowns, stalled U.S. stimulus efforts contribute to a second straight month of hedge fund losses
The hedge fund industry posted a second consecutive monthly loss in October, down 0.11% for the month, according to the Barclay Hedge Fund Index, compiled by BarclayHedge, a division of Backstop Solutions. Once again, however, the hedge fund industry outperformed the S&P 500 Total Return Index, which was down nearly 2.66% in October.…
Hedge Funds Add $5.6 Billion in August for a Third Straight Month of Inflows, According to Backstop BarclayHedge
Recovering Economies, Rising Equity Markets and Positive COVID Vaccine News Inspire Investor Confidence
Hedge funds posted a third consecutive month of inflows in August, adding $5.6 billion in new assets to July’s $10.5 billion in inflows and June’s $15.1 billion as the industry continued its rebound from spring’s pandemic-driven redemptions.…
Barclay CTA Index Loses 0.67% in September, According to Backstop BarclayHedge
Price reversals in equities, energy and precious metals set stage for a negative month for most managed futures sectors
Managed futures funds reversed course in September losing 0.67%, according to the Barclay CTA Index, compiled by BarclayHedge, a division of Backstop Solutions. For the year-to-date, CTAs were up 2.09%.…
Hedge Fund Industry Loses 0.65% in September, According to Backstop BarclayHedge
Rising infection rates, second stimulus uncertainty and contested election concerns bring an end to a five-month run of hedge fund gains
After five straight months in the black, hedge funds posted a negative number in September losing 0.65% for the month, according to the Barclay Hedge Fund Index, compiled by BarclayHedge, a division of Backstop Solutions. The hedge fund industry outperformed the S&P 500 Total Return Index, which was down 3.80% in September.…
Hedge Funds Post a Second Straight Month of Inflows Adding $10.5 Billion in July, According to Backstop BarclayHedge
A drop in unemployment numbers, percentage declines in Covid-19 death rates and rising equity markets buoy investors’ confidence
Hedge funds experienced a second straight month of inflows in July, bringing in $10.5 billion as the industry continued to shake off spring’s pandemic-driven redemption trend. July’s new assets built on June’s $15.1 billion in inflows.…
Barclay CTA Index Gains 0.18% in August, According to Backstop BarclayHedge
A strong month for equities, energy and metals coupled with U.S. dollar weakness offset mixed performance among other market sectors to provide a modest gain
Managed futures funds turned in another positive month in August returning 0.18%, according to the Barclay CTA Index, compiled by BarclayHedge, a division of Backstop Solutions. For the year-to-date, CTAs were up 2.73% through August.…
Hedge Fund Industry Gains 2.42% in August, According to Backstop BarclayHedge
Most hedge fund sectors benefit as a fifth consecutive month of positive equity returns fuels investor confidence
As Wall Street experienced its best August since the 1980s, the hedge fund industry posted its fifth straight positive month returning 2.42% in August, according to the Barclay Hedge Fund Index, compiled by BarclayHedge, a division of Backstop Solutions. By comparison, the S&P 500 Total Return Index was up 7.19% in August.…
Hedge Funds Experience $15.1 Billion in Inflows in June, According to Backstop BarclayHedge
June’s inflows reverse pandemic redemption trend as investors respond to market recovery
Hedge funds reversed course in June from the pandemic-driven redemption trend of prior months, posting $15.1 billion in inflows. It was a significant turnaround from $8.0 billion in outflows in May, $38.1 billion in April and $85.6 billion in redemptions in March.…
Barclay CTA Index Gains 1.63% in July, According to Backstop BarclayHedge
Uptrends in equities, bonds, currencies and metals set the stage for a profitable month
Managed futures funds were profitable in July as the CTA industry realized a 1.63% monthly gain, according to the Barclay CTA Index, compiled by BarclayHedge, a division of Backstop Solutions. For the year-to-date CTAs were up 2.49% through July.…
Hedge Fund Industry Gains 2.76% in July, According to Backstop BarclayHedge
Stronger than expected June job numbers, hopes for additional government stimulus and vaccine optimism spur investors, driving all hedge fund sectors to a profitable July
The hedge fund industry turned in a fourth consecutive positive month in July as stock markets’ continued strong performance contributed to a 2.76% return, according to the Barclay Hedge Fund Index, compiled by BarclayHedge, a division of Backstop Solutions. By comparison, the S&P 500 Total Return Index was up 5.64% in July and closed at an all-time month-end high.…
Hedge Fund Redemptions Continue to Decline, According to Backstop BarclayHedge
Outflows in May at $8.0 Billion
Hedge fund redemptions continued to decline from their COVID-19 pandemic-fueled peak of $85.6 billion in March. Net redemptions in May were $8.0 billion, 0.3% of industry assets, according to the Barclay Fund Flow Indicator published by BarclayHedge, a division of Backstop Solutions.…
Barclay CTA Index Loses 0.22% in June, According to Backstop BarclayHedge
As equity and energy markets continue to recover, some longer-term trend traders get caught on the wrong side of the trend.
Rebounding equity and energy markets caught some in the managed futures industry on the wrong foot in June, leading the CTA industry to a 0.22% monthly loss, according to the Barclay CTA Index, compiled by BarclayHedge, a division of Backstop Solutions. Year-to-date CTAs were up 1.04% through the end of June.…
Hedge Fund Industry Gains 2.04% in June, According to Backstop BarclayHedge
As economies reopen, stock markets continue to recover pandemic losses leading almost all hedge fund sectors to a positive month
Hedge funds continued their positive ways in June, riding a continuing stock market recovery and reopening economies to a 2.04% monthly return, according to the Barclay Hedge Fund Index, compiled by BarclayHedge, a division of Backstop Solutions. By comparison, the S&P 500 Total Return Index was up 1.99% in June.…
Hedge Funds See $38.1 Billion in April Hedge Fund Redemptions, According to Backstop BarclayHedge
Outflows decline from March but continue to reflect COVID-19’s strong influence on investor sentiment
The COVID-19 pandemic’s considerable impact on hedge fund redemptions continued in April as the industry experienced $38.1 billion in outflows. While a sizable sum, the net redemption total was less than half of March’s $85.6 billion redemption total.…
Barclay CTA Index Gains 0.04% in May, According to Backstop BarclayHedge
As economies recover, trend reversals in key markets create difficulties in some sectors
As financial markets continued their recovery and economies began to reopen from COVID-19 pandemic shutdowns, managed futures were able to capture a small profit in May, gaining 0.04% according to the Barclay CTA Index, compiled by BarclayHedge, a division of Backstop Solutions. Year-to-date CTAs gained 1.44% through the end of May.…
Hedge Fund Industry Gains 2.71% in May, According to Backstop BarclayHedge
Financial markets see positive signs in economies reopening and government stimulus helping nearly all hedge fund sectors to monthly gains
Stock markets carried April’s momentum into May and hedge funds were among the beneficiaries posting a 2.71% monthly return, according to the Barclay Hedge Fund Index, compiled by BarclayHedge, a division of Backstop Solutions. By comparison, the S&P 500 Total Return Index was up 4.76% in May.…
Hedge Fund Redemptions Jump to $85.6 Billion in March, According to Backstop BarclayHedge
As COVID-19 outbreak goes global, investor worries over economic fallout mount and their risk appetites shrink
The hedge fund industry felt the impact of the spreading COVID-19 pandemic in March as hedge fund redemptions jumped dramatically to $85.6 billion, a steep increase from February’s $8.1 billion in industry outflows.…
Barclay CTA Index Gains 0.12% in April, According to Backstop BarclayHedge
Managed futures continue to produce positive results even as the coronavirus pandemic causes massive economic disruptions
As the economic toll of the novel coronavirus mounted, managed futures posted another positive month in April and gained 0.12% according to the Barclay CTA Index, compiled by BarclayHedge, a division of Backstop Solutions. Year-to-date, CTAs gained 1.43% through the end of April.…
Hedge Fund Industry Gains 5.46% in April, According to Backstop BarclayHedge
Financial markets shift focus to stimulus, shake off COVID-19 damage and hedge funds post monthly gains across most sectors
U.S. stocks had their best month in decades in April and hedge funds sailed to a 5.46% return in April, according to the Barclay Hedge Fund Index compiled by BarclayHedge, a division of Backstop Solutions. By comparison, the S&P 500 Total Return Index was up 12.8% in April.…
Hedge Funds Redemptions are back in February with $8.1 Billion in Outflows, According to Backstop BarclayHedge
Redemptions from funds in U.K. and Europe set the month’s tone
FAIRFIELD, IOWA The hedge fund industry returned to net outflows in February with $8.1 billion in redemptions, a reversal from January’s $21.2 billion in inflows.…
Barclay CTA Index Returns 1.94% in March, According to Backstop BarclayHedge
As coronavirus disruptions create unprecedented turmoil, managed futures deliver a profitable first quarter and valuable diversification
With markets in turmoil resulting from the economic impacts of the coronavirus, managed futures made good on its diversification thesis and gained 1.94% in March according to the Barclay CTA Index compiled by BarclayHedge, a division of Backstop Solutions. Year-to-date, CTAs have gained 1.88%.…
Hedge Funds Down 8.03% in March, According to Backstop BarclayHedge
Hedge fund industry turns downward but manages to outperform equity markets as coronavirus shakes markets and economies
The hedge fund industry tracked the fates of other markets and broader economies roiled by the novel coronavirus pandemic in March, posting an 8.03% loss for the month, according to the Barclay Hedge Fund Index compiled by BarclayHedge, a division of Backstop Solutions. The hedge fund industry fared much better than the S&P Total Return Index which was down 16.2% for the month.…
