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Hedge funds positive in January

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Hedge funds got the year started on an upbeat note, with over three quarters of all funds (78.2%) administered by Citco delivering positive returns in January. Overall, funds achieved a weighted average return of 3.6%.

All types of strategies saw positive performance, apart from Commodities, with a -0.3% decline.

Event Driven funds performed best at 6.7%, followed closely by Multi Strategy at 4.4%, Equities at 3.6% and Fixed Income Arbitrage at 3.3%.

Positive gains were seen across all AUA categories, with funds of $1 billion to $3 billion achieving the highest weighted average return of 4%, followed by the $3 billion and $500 million to $1 billion categories, which both saw returns of 3.6%.

Capital flows also turned positive across the Citco platform in January, with Multi-strategy and Equities funds taking the lion’s share of new money, at $1.9 billion and $1.1 billion of net flows respectively. Overall subscriptions of $7.7 billion outweighed $5.4 billion of total redemptions over the month resulting in positive inflows of $2.3 billion.

Most AUA categories saw inflows with the largest funds (>$10 billion) seeing net inflows of $0.9 billion. Funds in the $1 billion to $5 billion category meanwhile, pulled in the same amount.

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