Data

Multi-strategy deep dive – Apr 22

In summary...

Multi-strategy funds posted 12 consecutive months of positive returns during a period that provided a number of significant challenges across the hedge fund universe.

Multi-strategy is the second best performing strategy over the past 12 months and the best performing hedge fund strategy over 3, 5 and 10 year period.

When decomposing multi-strategy returns by risk free rate, beta and alpha, the majority of the cumulative returns are shown to come from alpha.

With the trend of larger managers tightening liquidity terms, those investors unable to accept the less liquid terms are likely to move down the curve in terms of manager quality and return expectations.

24 February 2026
Data

Monthly hedge fund industry performance review – January 2026

10 February 2026
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Hedge fund industry performance deep dive – Full year 2025

27 January 2026
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Monthly hedge fund industry performance review – December 2025

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