Traditional stock-picking funds have started 2019 with stellar performance, but investors are still redeeming billions of assets, data from eVestment show.
Long-short equity funds, the biggest strategy by assets in the $3.2 trillion hedge fund space, have had a hot start to 2019. But investors have still pulled out billions.
The stock-picking space has created some of the most well-known hedge fund names, but investors have begun to move away from the strategy as cheaper index products tracking the public market have grown in popularity.their long-short strategy this year.Traditional long-short equity funds still hold the most assets of any strategy in the hedge fund world with $758.
In the first month of 2019, the hedge fund industry saw $1.7 billion leave overall, while traditional long-short funds bled $5.9 billion in net outflows, despite performance bouncing back after a disastrous end to 2018.have gotten out to hot starts, and the traditional stock-picking space is up as a whole — nearly 6% through January, according to eVestment. Bill Ackman's Pershing Square is up 29.3% through Feb. 19, the firm's website states, after finishing 2018 slightly in the red.
Even with returns rebounding, investors are still looking elsewhere — specifically multi-strategy and quant products. For funds where stock-picking is just one of several strategies run by the hedge fund, there has been movement away from the traditional equities business. In
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