Eurekahedge: FoFs Beat Single Managers In 2013

Feb 18 2014 | 8:17am ET

Funds of hedge funds outperformed single managers in 2013 for the first time ever, according to the latest Eurekahedge data. FoFs ended the year up 8.09%, their best performance in four years.

Single managers were up 8.02% in 2013, according to an earlier report from the data provider.

Final 2013 figures put global hedge fund assets under management at $240 billion—$103 billion in performance-based gains, $137 billion in net asset inflows.

In January 2014, hedge funds beat the MSCI World Index, losing 0.48% to the index's 3.74% drop.

Investors poured $4.4 billion into long/short equities strategies in January, that strategy's 14th consecutive month of positive net-flows. On the flip side, investors pulled $7.9 billion from CTA/managed futures strategies in H2 2013.

Distressed debt hedge funds were the top performers in January, returning 2.05% on the month (North American distressed debt funds were up 3.25%).

The Asian hedge fund universe saw 143 launches versus 108 closures in 2013 and now counts 1,333 funds managing US$146.7 billion.

Average hedge fund management and performance fees for new launches fell to 1.4% and 16.0%, respectively, in 2013.


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