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Investors to favour large hedge funds again in 2023

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Investors are set to favour large hedge funds in 2023, with data from Agecroft Partners suggesting that the top 5% of the world’s hedge fund managers will take 80-90% of investor inflows this year, according to a report by Reuters.

But the report cites Agecroft Partners founder and chief executive Don Steinbrugge as saying that the more than 2,000 institutional investors the firm has been in dialogue with over their allocation plans may be wrong to stick with large managers despite their outperformance in 2022.

While hedge funds on average lost 4.1% to the end of November last year according to data from HFR, partners large managers including AQR, DE Shaw and Man Group all recorded double-digit gains. Multiple AQR finds gained over 30% in 2022, while DE Shaw’s biggest fund ended the year up  24.7% and Man Group’s AHL Diversified programme returned 13.1%.

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