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India-focused hedge funds soar 40 per cent in 2021

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Hedge funds focused on emerging market economies remain in solid form, with India-focused managers powering ahead in the run-up to year-end.

India-focused funds are set be the “big performance winners” in 2021, eVestment said on Wednesday, despite losing more than 2 per cent in November.  

Overall, emerging market strategies are up 5.27 per cent since the start of the year, with hedge funds trading India (whose returns stand at 40 per cent YTD) as well as Russia (up 11.52 per cent, despite a near-6 per cent November loss) driving performance. 

On the flipside, Brazil-focused managers have tumbled almost 20 per cent in the 11-month period since the start of 2021.

Elsewhere, eVestment data shows strategies investing in Africa and Middle East markets have advanced 14.51 per cent so far this year – despite sliding 4.33 per cent last month – and are outflanking North America managers, who are up 12.81 per cent, Asia (6.62 per cent) and developed Europe (5.01 per cent) on a year-to-date basis.

“With what has generally been a strong year for the hedge fund business nearly over, the business stumbled a bit in November,” eVestment said on Wednesday, noting that the industry dipped some 2.16 per cent last month on average. 

According to eVestment metrics, the global hedge fund industry remains up 8.23 per cent for the year, with gains driven predominantly by energy-focused equity managers, which have soared 25.73 per cent since the start of 2021, along with activist hedge funds which are up more than 22 per cent for the year.

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