Hedge Funds Pull In $4.4B In January

Mar 12 2014 | 9:42am ET

Hedge funds kicked off 2014 on a high note, asset-wise, taking in $4.4 billion in January.

“The hedge fund industry took in $56.6 billion in the 12 months ended in January, a big reversal of the outflow of $12.6 billion in the previous 12-month span,” said Sol Waksman, president and founder of BarclayHedge, in a statement.

Industry assets dipped to $2.1 trillion in January from December’s five-year high of $2.2 trillion, according to estimates based on data from 3,362 funds. Assets rose 14% in the past 12 months but were down 13% from the all-time high of $2.4 trillion in June 2008.

The monthly TrimTabs/BarclayHedge Hedge Fund Flow Report noted that the hedge fund industry lost just 0.4% in January, far outperforming the S&P 500, which skidded 3.4%. In the past 12 months, the industry returned 8.2%, while the S&P 500 gained 21.5%.

Equity long-only hedge funds, up 17.3% over the last 12 months, had a rough January. “Equity long-only funds had their worst showing in 20 months, losing 3.3% and more than reversing the 2.0% gain in December,” said Waksman.

The data providers' monthly survey of hedge fund managers found most expect gold prices to rise in the next six months, while those who expect stocks to outperform bonds and precious metals consituted less than the majority for the first time since August 2013. Managers are equally bullish, bearish, and neutral on the S&P 500 over the next 30 days and similarly split on oil prices over the next six months.


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