New York (HedgeCo.Net) – Hedge funds surpassed the MSCI World Index by over 3% in January, according to new data from the February 2014 Eurekahedge report. Almost 90% of fund managers outperformed underlying markets during the month.
Final figures for 2013 put the growth in global hedge fund AUM at $240 billion. Investors allocated $4.4 billion to long/short equity strategy hedge funds in January.
Hedge fund performance-based gains and net asset inflows for the year stand at $103 billion and $137 billion respectively. Eurekahedge also reports that for the first time ever, fund of hedge funds outperformed underlying single managers, up 8.09% in 2013 – their best performance in the last four years.
Other highlights include:
- CTA/managed futures strategy recorded net outflows of $7.9 billion in 2H 2013 as trend following strategies ended 2013 in negative territory
- Developed markets investing hedge funds fared better than those focused on emerging economies, with North American, European and Japanese hedge funds delivering positive returns amid difficult market conditions
- Emerging markets investing hedge funds outperformed the MSCI EM Index by 2.3% during the month, and by 4.9% overall in 2013
- Distressed debt hedge funds delivered the best returns during the month – up 2.05% with the Eurekahedge North America Distressed Debt Hedge Fund Index gaining 3.25% in January
- The population of Asian hedge funds increased in 2013 with 143 launches and 108 closures – total number of funds currently stand at 1,333 managing $146.7 billion
Average hedge fund management and performance-based fees for new launches dropped to 1.4% and 16.0% respectively in 2013.
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