Credit Suisse/Tremont: Hedge Funds Gained Traction In Q1

May 7 2009 | 9:20am ET

The first quarter for hedge funds wasn’t all doom and gloom, according to research released today from Credit Suisse/Tremont.

According to the report, despite continued market volatility, hedge fund returns appear to have stabilized in the first quarter as funds posted gains of 0.9% between January and March, this is compared to a loss of 13% in the MSCI World Index and a 3% decline in the Barclays Global Aggregate Bond Index.

Asset classes that are in favor right now include macro, managed futures and convertible arbitrage.

However, despite positive performance, overall assets under management for the industry declined an estimated $163 billion between January and March, bringing total industry assets to an estimated at $1.3 trillion.

Additionally, as of March 31, an estimated 17% of funds were classified as impaired, meaning they have either imposed lockup provisions, suspended redemptions or placed assets in side pockets. The report says that consolidation of the hedge fund industry seems likely, potentially leaving surviving funds better positioned to capitalize on alpha generating opportunities.

RELATED DOCUMENTS:

Credit Suisse/Tremont Q1 2009 Hedge Fund Report (PDF)


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Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

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