Hedge fund industry reaches US$4.3 trillion milestone in first quarter
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THE global hedge fund industry ended the first quarter with a record US$4.3 trillion in assets, data provider HFR said on Monday (Apr 22).
The industry added US$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 per cent in the first quarter, according to the HFRI Fund Weighted Composite index.
The industry also added US$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. REUTERS
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