Editor’s Letter – Issue 146

January 2020

Hamlin Lovell
Originally published in the January 2020 issue

Hedge fund industry assets have reached a new record of US$3.3bn, according to HFR. Despite small net outflows, the best performance since 2009 has boosted the total to a new high. The HFRI Fund Weighted Composite Index delivered 10.4% in USD in 2019, which was only surpassed in 2009 when it made 19.98%.

All of the major strategy categories were positive for the year. Standout numbers included equity hedge funds specializing in the healthcare and technology sectors, which were up 23.8% and 16.15%, respectively. These are the growth sectors that have been powering ahead the US stock market. And although the value style of investing has lagged growth, the HFRI Equity Hedge Fundamental Value Index made 16.07% in 2019.

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