Hedge funds enjoyed seven consecutive months of gains and delivered returns of 4.06% in the third quarter (3Q) of this year – their best performance since Q1 2013.
Research by Preqin showed that all leading hedge fund strategies posted gains in Q3. Macro strategies posted the lowest quarterly gain at 1.94% while equity strategies posted the highest returns, at 5.18%.
For the year to date at the end of Q3, event-driven strategies returned 7.90%, the highest of any hedge fund strategy, while relative value strategy funds posted the lowest at 3.11%.
Credit and macro strategies were the only leading funds to have posted gains in all three quarters and returned 5.85% and 5.27% year-to-date, respectively.
Preqin also found that the smallest funds made the most gains in Q3; those with less than $100 million (€91 million) in assets returned 4.27%. Conversely, the larger funds with assets over $1 billion returned the least, gaining 2.94% over the quarter.
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