Hedge Funds Bank $4.4B in January 2014Hedge funds kicked off in January 2014, according to report released by BarclayHedge and TrimTabs Investment Research.
“The hedge fund industry took in $56.6 billion in the 12 months ended in January, a big reversal of the outflow of $12.6 billion in the previous 12-month span,” said Sol Waksman, president and founder of BarclayHedge.
Industry assets dipped to $2.1 trillion in January from December’s five-year high of $2.2 trillion, according to estimates based on data from 3,362 funds. Assets rose 14% in the past 12 months but were down 13% from the all-time high of $2.4 trillion in June 2008.
The monthly TrimTabs/BarclayHedge Hedge Fund Flow Report noted that the hedge fund industry lost just 0.4% in January, far outperforming the S&P 500, which skidded 3.4%. In the past 12 months, the industry returned 8.2%, while the S&P 500 gained 21.5%.
Equity Long Only hedge funds, which led the industry in the past 12 months with a gain of 17.3%, had a rough January. “Equity Long Only funds had their worst showing in 20 months, losing 3.3% and more than reversing the 2.0% gain in December,” Waksman said.Source: Opalesque