In summary...
Hedge funds ended Q1 2024 up 4.9%, outperforming bonds, -2.1%, but behind equities, +7.3%
Quant was the strongest performing master strategy in Q1, +8.2%, after being the joint weakest (with arbitrage) master strategy in 2023
Quant sub-strategies represented four of the top five performing sub-strategies in Q1
Arbitrage remains the worst performing strategy, delivering +1.4% in Q1
While multi-strategy is the fourth strongest performer in Q1 it remains the top performer over five-years with a CAR of 10.6% and the highest Sharpe ratio of 2.2
Industry AUM growth over the quarter was largely driven by P&L; all strategies had negative net flows in Q1 with the exception of quant and arbitrage
Alt UCITS continue to underperform hedge funds, with the exception of long biased alt UCITS which delivered 5.3% v 4.7% for long biased hedge funds
