The hedge fund industry continues to see asset redemptions despite performance that’s outpacing 2018’s challenging results, as reported by eVestment in April. Now at least one set of investors and consultants – those in continental Europe – appear to be giving hedge funds another look in a big way, according to the latest eVestment Advantage Viewership Report.
Hedge fund universes made up half of the top viewed universes among eVestment users from Europe ex-UK in April. Hedge funds also made up eight of the top 10 rising universes. Various macro, managed futures, fund of funds and multi-strategy universes were in the mix. Two Asia-Pacific focused hedge funds, Segantii Capital Management’s Asia-Pacific Equity Multi-Strategy Fund and Graticule Asset Management Asia Pte. Ltd.’s Asia Macro Fund were among the most viewed products among Europe ex-UK investors and consultants.
The monthly eVestment Advantage Viewership Report highlights the top asset managers and investment themes of interest to institutional investors and consultants around the world. The report looks at data globally and from various countries and regions, including the United States, the United Kingdom, Europe ex-UK, Africa, Japan and Asia ex-Japan. Putting this data into context with global and local political, markets and corporate news can offer a unique perspective into how investors are responding to that news and how they may shift assets or investment strategies over time.
According to the report, BlackRock regains the top spot as the most viewed firm globally in April. Buoyed by the attention to its Market Advantage (Risk Parity) strategy, a globally-focused balanced/multi-asset product, BlackRock displaced Wellington Management to become the most viewed firm by investors and consultants using the eVestment platform. Wellington’s most viewed product, its Global Perspectives strategy focused on global small-mid cap equities, garnered almost the same amount of views as BlackRock’s strategy however.
The report also reveals that emerging markets fixed income universes take top spots in Asia ex-Japan. Four of the five most viewed universes by users located in this region were global EM fixed income, including those focused on hard currency, blended currency, local currency and corporate debt. EM debt strategies managed by Aberdeen Standard Investments were of particular interest to Asia ex-Japan investors and consultants.
In addition, US investors and consultants show increased interest in Infrastructure, as this universe was fourth on the rising universes list and driven by its rising product DWS Investment Management Americas, Inc: Global Infrastructure Strategy. In Canada, US Private Real Estate was the second rising universe, supported by AEW Capital Management’s AEW Core Property Trust, and in Japan, Neuberger Berman’s REIT strategy helped the US REIT universe become the fifth rising in this region.
Global tie-breaks for the most recent month go to firms/products/universes that had the most views in the prior six months. Regional tie-breaks for the most recent month go to firms/products/universes with the most global views in the current month, then most regional views in the prior six months if still tied, then most global views in the prior six months if still tied.
