The industry delivered a return of 0.6% in April, one-third of the S&P 500’s 1.8% rise. The trend was similar over the past 12 months, when hedge funds earned 8.1% and the S&P 500 rose 14.3%.
The TrimTabs/BarclayHedge Hedge Fund Flow Report noted that stock-picking hedge fund managers performed well, just as they did over the past 12 months.
“Equity Long Only hedge funds rose 4.4% in April, making them the best performing of 13 major fund categories,” said Sol Waksman, president and founder of BarclayHedge. “Fixed Income and Multi Strategy continue to be the only strategies to post inflows in the past 12 months."
Funds of hedge funds continued to shed assets, losing $4.2 billion in April and $53.2 billion over the past 12 months. Funds of funds outperformed the hedge fund industry for the first time in 10 months in April, outpacing the industry’s gains by 20 basis points.
The latest TrimTabs/BarclayHedge Survey of Hedge Fund Managers found that bearish sentiment on the S&P 500 dived by 25 percentage points in the wake of the relentless rally in May. Nevertheless, while bullishness for June slightly outstrips bearishness, most managers are neutral.
The TrimTabs/BarclayHedge database tracks hedge fund flows on a monthly basis. The TrimTabs/BarclayHedge Hedge Fund Flow Report provides detailed analysis of these flows as well as relevant topical studies. Click here for further information.
BarclayHedge is a leading hedge fund data vendor and one of the foremost sources for proprietary research in the field of alternative investments. From its origin as a research specialist and performance measurement firm, BarclayHedge has developed complete client services as a publisher, database and software provider, and industry consultant.
TrimTabs Investment Research is the only independent research service that publishes detailed daily coverage of U.S. stock market liquidity--including mutual fund flows and exchange-traded fund flows--as well as weekly withheld income and employment tax collections. Founded by Charles Biderman, TrimTabs has provided institutional investors with trading strategies since 1990. For more information, please visit us here.