New York (HedgeCo.net) – The number of UCITS hedge funds continued to grow during Q3 2010, reaching 525 single manager funds and 50 funds of hedge funds, according to the UCITS Alternative Index Quarterly Industry Report.
This represents an increase of 9.38% and 19.04% respectively for the last quarter and 55.79% and 127.27% on a year to date basis. The third quarter saw an increase of asset under management of EUR 1,9 billion ($2.6 billion) for single manager funds and EUR 452 million ($6.5.6 million) for funds of hedge funds or respectively 2.23% and 19.36% in percentage terms for the quarter and 41.75% and 110.7% for the year.
UCITS hedge funds end the quarter with a progression of 1.09% in light of the strong rebound of the equity market. The best performing index for the period is the Emerging Markets Index followed by the Event Driven Index with respectively 3.43% and 3.11%.
On the opposite, the worst performing Indices are the Commodities and Equity Market Neutral which returned – 1.51% and -0.48% respectively. On a year to date basis, the Fixed Income Index is still the best performing one with 3.75% followed by the Event Driven Index with 3.47% while the Commodities Index is showing the worst performance with -6.76% Fund of hedge funds display a negative -1.01% return in the third quarter bringing the performance for the year to -1.49%.
At the end of Q3 2010, the three largest strategies in terms of AUM remain unchanged. Fixed Income funds represent 29.06% of the total funds managed in UCITS hedge funds. They are followed by Macro and Long/Short funds representing 24.59% and 19.59% respectively. These three strategies are representing close to three quarters of the total AUM managed in UCITS hedge funds.
The picture is very similar when we look at the number of funds by strategy. Long/Short Equity funds represent the largest part with 25.33%. They are followed Macro and Fixed Income funds with respectively 24.76% and 13.33% of the total number of funds. With a progression of 20.58% in Q3 2010, the Emerging Market Index experiences the largest percentage rise in terms of number of constituent funds followed by the Macro and Long/Short Equity Index with a progression of 18.18% and 11.76% respectively.
Editing by Alex Akesson
For HedgeCo.net
alex@hedgeco.net
HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership in HedgeCo.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!
