Digital Assets Report


Like this article?

Sign up to our free newsletter

Hedge funds have first negative month of 2024 in April

Related Topics

Hedge funds experienced their first negative month of the year in April, with a weighted average return of -0.7%, according to new data from Citco, but remain in positive territory for 2024 with a year-to-date weighted average return of 6.5%.

Commodities strategies were the only positive performers during the month with a weighted average return of 2.1%, their best monthly performance so far in 2024.

Event-driven funds, meanwhile, were the worst performers with a weighted average return of -2.1%, followed by equities at -1.3% and global macro at -1%.

Muted performance was seen across several other strategies including fixed income arbitrage and multi-strategy funds, with both recording returns of -0.3%.

In terms of AUA, negative performance was seen across most fund sizes, with only those funds with between $500m-$1bn of AUA seeing a positive return of 0.1%.

The largest funds — those with AUA of $3bn or more — which had previously been the strongest performers so far this year,
had a weighted average return of -0.1% in April, while funds with $1bn-$3bn came in at -0.3% and funds with £200m-$500m saw -0.8%.

The smallest funds — those with less than $200m AUA — were the worst performers at -0.9%.

Capital flows were positive over the month, with net inflows of $5.7bn overall taking net inflows YTD to $2.6bn. Nearly all strategy types had net inflows, with multi-strategy funds seeing $2bn.

Funds in the Americas had the highest inflows at $4.2bn, followed by Europe at $0.9bn and Asia at $0.6bn.

Like this article? Sign up to our free newsletter

Most Popular

Further Reading