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“The hedge fund industry has taken in a net $66.9 billion in 2013, a healthy turnaround from an outflow of $8.2 billion in the same period in 2012,” said Sol Waksman, president and founder of BarclayHedge. Hedge funds had net inflows in nine of the first 11 months of 2013.
Industry assets climbed to a five-year high of $2.1 trillion. “Assets are up 17% in 2013 but are still 14% below the all-time peak of $2.4 trillion in June 2008,” Waksman said.
The monthly TrimTabs/BarclayHedge Hedge Fund Flow Report said the industry gained 0.8% in November, underperforming the S&P 500, which gained 3.1%. Equity Long Only hedge funds gained 2.3%, adding to October’s 1.9% gain. Equity Long Bias funds gained 1.6%, down from a 2.3% gain in October.
Funds of hedge funds took in $1.9 billion (0.4% of assets) in November, reversing course after redeeming $1.1 billion October. Funds of funds added assets in just three of the past 24 months. By contrast, the hedge fund industry posted inflows in 15 of the past 24 months.
Meanwhile, the monthly TrimTabs/BarclayHedge Survey of Hedge Fund Managers finds a plurality of managers is bullish on the S&P 500’s prospects for January. Bearish sentiment is at a three-month high, while bullish sentiment is at a three-month low. Nearly two-thirds of respondents expect equities to outperform bonds and precious metals over the next six months, and a similar proportion expects developed markets to outpace emerging and frontier markets in the same period.
The TrimTabs/BarclayHedge database tracks hedge fund flows on a monthly basis. The TrimTabs/BarclayHedge Hedge Fund Flow Report provides detailed analysis of these flows as well as relevant topical studies. Click here for further information.
BarclayHedge is a leading hedge fund data vendor and one of the foremost sources for proprietary research in the field of alternative investments. From its origin as a research specialist and performance measurement firm, BarclayHedge has developed complete client services as a publisher, database and software provider, and industry consultant.
TrimTabs Investment Research is the only independent research service that publishes detailed daily coverage of U.S. stock market liquidity--including mutual fund flows and exchange-traded fund flows--as well as weekly withheld income and employment tax collections. Founded by Charles Biderman, TrimTabs has provided institutional investors with trading strategies since 1990. For more information, please visit us here.
