Hedge funds extended their winning streak to four months in a row in August taking overall YTD returns close to double-digit territory with a range of strategies delivering positive performance amid a spike in market volatility early in the month, according to the latest data from Citco.
Hedge funds administered by Citco achieved an overall weighted average return of 1.1% over the month, an increase from 0.6% in the previous month – taking YTD returns to 9.5%.
Equities funds led the way with a 1.7% weighted average return, showcasing strong performance, followed by global macro and fixed income arbitrage, at1.4% and 0.9%, respectively.
Funds with $1bn-$3bn bAUA and $3bn plus achieved the highest weighted average return of 1.2%, closely followed by funds with $200m-$500m with a weighted return of 1%, showing a good performance from the largest funds.
In terms of new money, net inflows totalled $2.3bn in August, with strong subscriptions of $9.8bn compared to $7.5bn in redemptions.
Funds in the Americas and Europe ($0.8B) both saw positive net inflows in August of $1.8bn and $0,8bn, respectively, while funds in Asia saw net outflow of $0.3bn.
