BlackRock reopens equity hedge fund, targets extra $1bn after record loss

Related Topics

The BlackRock Strategic Equity Hedge Fund, which is run by money manager Alister Hibbert, is reopening to additional investment for the first time since 2019 and targeting an additional $1bn in funds after chalking up a record annual loss in 2022, according to a report by Bloomberg.

The London-based equity fund was down 12% last year, its biggest fall since launching in 2011 with just $13 million, ending the year with $7.6 billion in assets. Despite the record decline though, the fund, which employs a long-short equity strategy, still fared better than most equity indexes, and has returned 325% over its lifetime.

The decision to reopen to new cash from the end of March comes at a difficult time for long-short equity funds with the sector seeing almost $38 billion of outflows last year, according to data from eVestment.

Author Profile