News: Hedge fund industry November stats

Eurekahedge: Hedge fund managers recorded their strongest return since 2009 and were up 4.50% in November, supported by the strong performance of the global equity market as represented by the MSCI ACWI (Local) which generated 11.63% return throughout the month. On a year-to-date basis, global hedge funds were up 8.09%, with more than 40% of its underlying constituents having underperformed the global equity market over the first 11 months of2020. Assets under management for the global hedge funds industry have rebounded increasing by US$128.0 billion over the past eight months since March 2020. This has come from performance-driven gains of US$139.8 billion and net investor outflows of US$11.8 billion. This marks a sharp recovery following a US$264.1 billion asset decline in Q1 2020. The hedge fund prime brokerage industry continues to be dominated by major US and European banks. As of October 2020, the top three prime brokers based on AUM collectively oversee over 40% of the total industry AUM. In 2008 the top 10 prime brokers oversee roughly 68% of the industry AUM, while in 2020 the top 10 prime brokers dominate the market, leaving just 14% of market share for the other prime brokers.