While the hedge fund indices and inflow data tell us that this year was less than optimal for hedge funds, much can be learned about what the future for the industry holds by eyeing some of the main trends at the three largest global hedge fund firms – Bridgewater, Renaissance Technologies and AQR Capital Management
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No one will argue that its been a tough year for hedge funds, with fund closures and even some legends in the industry underperforming the U.S equity stock market that continues to make records daily.
Should portfolio managers be partying like it’s 1999 or as though it is 2000 – which kicked off a decade of blockbuster returns and inflows?
UMB has again partnered with FUSE Research Network‡ to issue the third edition of this report, which delivers the most comprehensive look at unlisted CEFs in the industry. The report provides insights and data on the number of unique funds and assets; top funds and firms; a market update and outlook; advisor use trends; and a manager spotlight.
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As widely reported in the financial media and by S&P Global, over the past 15 years, 92.2% of large-cap funds have failed to beat the S&P 500. Or in other words, a random selection of a portfolio consisting of large-cap funds will result in only a 7.8% probability of beating the S&P 500 over a long time period
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I was roughly 13 years old when I fell for Nicolas Cage in Valley Girl. Between the Modern English montage of soda sharing and late-night phone calls (on corded phones and pay phones!) and the bitchin’ clothes and slang, my tweenage heart sang just a little for Hollywood punk Randy. In fact, if not for that movie, I doubt the phrases “Tubular!” and “Gag me with a spoon” would have ever made an appearance in my semi-rural Alabama hometown, even if the latter is what Northerners often think out loud when trying grits for the first time
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