In Summary...
Five-year CAR for hedge funds was at 4.9% at the end of Q3, above bonds at -1.7% and just above equities at 4.1%.
Global equities*** and bonds** were both down over the quarter, returning -3.8% and -3.5% respectively.
Equity l/s and long biased, strategies with higher beta to equities, were the worst performing strategies over the quarter, having been the top performers in H1.
Quant was the top performing strategy for the quarter, returning 3.4%.
The top performing strategies year-to-date are multi-strategy up 5.9% and credit up 5.6%.
Performance dispersion increased over the quarter.
