Man Group: “Worst possible time” for investors’ hedge fund withdrawal, as cycle turns

charging bull

Investors are slashing their exposure to hedge fund products at the “worst possible time”, says Man Group’s Pierre-Henri Flamand, amid signs that the long bull market run is starting to run out of steam – throwing up new opportunities for actively-managed strategies.

In spite of a strong year for hedge funds in 2019 – up more than 10 per cent for the year, their best performance in a decade – they were still comfortably outflanked by equity benchmarks, with the S&P 500 climbing more than 31 per cent as the stock market sustained its strong momentum.

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