Hedge funds continued their run of positive performance last December, notching up an overall weighted return of 2% for the month according to new data from Citco, the global alternative investment asset servicer with over $1.8tn in AUM.
Citco’s data shows that all strategies saw positive performance over the month, with event-driven funds leading the way with the highest weighted average return of 3.5%, followed by equities at 3.3%, and fixed income arbitrage at 2.4%.
On an AUA basis, all categories posted positive returns, the top performers being funds with between $1bn and $3bn, with a weighted average return of 2.7%.
Hedge funds overall ended the year on a strong footing with 79.2% of funds achieving a positive return, up from November’s figure of 76.8%.
In terms of flows, and in keeping with previous years, both inflows and outflows were elevated in December, with subscriptions more than doubling month-on-month to $15.7bn, and redemptions increasing to $36.2bn, resulting in net outflows of $20.5bn.
