News Digest:

Equity strategy funds led November’s performance with a weighted average return of 3.4%, followed by global macro strategy funds at 2.6% and multi-strategy funds at 2%. Event-driven funds were the only laggards, posting a negative return of -0.4%.

Overall, returns across asset categories turned positive, averaging 2.4%. Larger funds outperformed, with those managing over $3 billion returning 2.6%, while funds in the $1 billion to $3 billion range returned 2.5%.

A notable 76.8% of funds posted gains, a significant improvement from the previous month’s 50%. However, performance disparity widened, as the spread between the 90th and 10th percentile returns increased to 9.5%, up from 8.2% in October.

Hedge funds saw net inflows of $0.5 billion, driven by $8.6 billion in subscriptions versus $8.1 billion in redemptions. Regionally, Europe and Asia recorded net inflows of $0.8 billion and $0.1 billion, respectively, while the Americas faced a $0.4 billion outflow.

The latest Monthly Hedge Fund Update from Citco reported an overall weighted average return of 13.3% in 2024 to date.

End Notes

Source: https://www.citco.com/insights/citco-monthly-hedge-fund-update-november-2024#:~:text=Hedge%20funds%20administered%20by%20the,weighted%20average%20return%20to%2013.3%25