Introduction
Hedge funds outperformed global equity markets yet again in September (-2.69%1 vs. -9.98% for the MSCI AC World Index) as managers focused on hedging strategies and short-term directional trades. All regional mandates finished the month with losses but fixed income and Latin American hedge funds are still in positive territory YTD. Managers lost more than US$37 billion in total assets through the month as investors accounted for US$20.98 billion of net outflows. Hedge funds now oversee US$1.76 trillion of capital - the lowest figure since March 2011.
Highlights of hedge fund performance and asset flows for the month are as follows:
| September 2011 | US$ billion |
|---|---|
| Allocation (Inflows) | 7.58 |
| Redemption (Outflows) | -28.56 |
| Net Asset Flows | -20.98 |
| Positive Performance (Growth) | 12.08 |
| Negative Performance (Decline) | -28.57 |
| Total | -16.49 |
| Overall Total | -37.47 |
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Footnote
1 Based on 61.67% of funds which have reported September-2011 returns as at 17-October-2011
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