NEW YORK, April 22 (Reuters) – The global hedge fund industry ended the first quarter with a record $4.3 trillion in assets, data provider HFR said on Monday.
The industry added $190 billion in assets in the first quarter, the sixth consecutive quarter of growth, it said.
Hedge funds’ performance was the main driver of asset growth, as funds went up 4.52% in the first quarter, according to the HFRI Fund Weighted Composite index.
The industry also added $16.6 billion in net new money in the quarter, especially to equity and event-driven hedge fund strategies.
HFR said in a statement that portfolio managers took advantage of an environment involving unprecedented geopolitical risks and macroeconomic uncertainties in the first quarter.
Source: REUTER
Post a comment
Related Posts
August 27, 2024
China’s PDD suffers $55 bln market cap wipeout after flagging an uncertain market
China’s PDD Holdings (PDD.O), opens new tab missed market estimates for quarterly revenue on Monday, and downbeat…
August 27, 2024
JPMorgan Chase is sued over low rates on cash sweeps
JPMorgan Chase (JPM.N), opens new tab has been accused in a new lawsuit of sweeping customers’ idle…
August 23, 2024
HSBC to double UK wealth business as banks target ‘mass affluent’
HSBC aims to double the assets under management (AUM) in its British wealth business to…
August 23, 2024
Investors rush to money market funds before Fed rate cut, BofA says
Investors poured $37 billion into cash-like money market funds (MMFs) in the week to Wednesday,…
