eVestment's Top Hedge Funds In December 2020
AQR Capital Management's Global Style Premia Long Only Equity fund was the most viewed hedge fund on Nasdaq-subsidiary eVestment's platform in December, beating out 1060 Capital Management's 1060 Capital Opportunity Fund, which took the top spot in October and November, into second place. Renaissance Technologies' Renaissance Institutional Equities Fund came in third.
Global: Most Viewed Alts/HF Products December 2020 | ||
Most Viewed Product's Firm Name | Most Viewed Product | |
New | AQR Capital Management LLC | Global Style Premia Long Only Equity |
1060 Capital Management | 1060 Capital Opportunity Fund, LP | |
New | Renaissance Technologies LLC | Renaissance Institutional Equities Fund (RIEF) LLC |
New | Wellington Management Company LLP | Commodities |
Verition Fund Management | Verition Multi-Strategy Fund Composite | |
New | Record Currency Management Ltd | Dynamic Hedging US |
New | Evanston Capital Management, LLC | The Weatherlow Fund I L.P. ("Weatherlow") |
New | AQR Capital Management LLC | US Equity Style Premia Beta 1 |
New | Marshall Wace LLP | Marshall Wace - MW Eureka Fund |
New | York Capital Management (US) Advisors, L.P. | York Investment Ltd |
At the regional level, Global Style Premia Long Only Equity was the most viewed product in Asia ex-Japan, Capital Fund Management's CFM Stratus Program was the most viewed in Europe ex-UK, Old Orchard Capital Management's Old Orchard Credit Master Fund was clicked on the most by Japan-based eVestment subscribers, QMA Wadhwani's Keynes Systematic Absolute Return product took the most eyeballs in the U.K. and Wellington Management's Commodities product was most viewed in the United States (also coming a close fourth in the overall most viewed list last month).
At the firm level, AQR was most viewed with Wellington Management second, its rise up the leaderboard propelled by its Commodities product. RenTec was third.
Global: Most Viewed Alts/HF Firms December 2020 | ||
Firm Name | Firm's Most Viewed Product | |
AQR Capital Management LLC | Global Style Premia Long Only Equity | |
New | Wellington Management Company LLP | Commodities |
New | Renaissance Technologies LLC | Renaissance Institutional Equities Fund (RIEF) LLC |
PIMCO | PIMCO Tactical Opportunities Fund | |
Bridgewater Associates, LP | Bridgewater Pure Alpha Major Markets | |
1060 Capital Management | 1060 Capital Opportunity Fund, LP | |
New | Record Currency Management Ltd | Dynamic Hedging US |
New | Capital Fund Management SA | Tie: CFM Stratus Program and CFM Discus Program |
New | IFM Investors Pty Ltd | IFM Global Infrastructure (US), L.P. |
New | BlackRock | Global Renewable Power III |
Regionally, the investment manager of each of the products which took top spot at the product level also saw the most activity at the firm level, with the exception of Japan, where IFM Investors had the most views on aggregate.
AQR's Global Style Premia Long Only Equity was also the biggest riser - the number of views in the month vs. the prior 12 month rolling average - and Wellington Management's Commodity product was second. Record Currency Management's Dynamic Hedging US product was third.
Global: Rising Alts/HF Products December 2020 vs. Prior 12 Months | ||
Rising Product's Firm Name | Rising Product | |
New | AQR Capital Management LLC | Global Style Premia Long Only Equity |
New | Wellington Management Company LLP | Commodities |
New | Record Currency Management Ltd | Dynamic Hedging US |
New | Renaissance Technologies LLC | Renaissance Institutional Equities Fund (RIEF) LLC |
New | AQR Capital Management LLC | US Equity Style Premia Beta 1 |
1060 Capital Management | 1060 Capital Opportunity Fund, LP | |
Verition Fund Management | Verition Multi-Strategy Fund Composite | |
New | York Capital Management (US) Advisors, L.P. | York Investment Ltd |
New | e360 Power, LLC | e360 Power Flagship |
New | Paloma Partners Management Company | Paloma Partners L.L.C. |
Perhaps an indication of how investors expect to adjust their portfolios in 2021, Macro provided all three of the top rising strategies - Wellington's Commodities at the discretionary level, Record Currency Management's Dynamic Hedging US at the quantitative level and JP Morgan Investment Management's JPM Global Macro Opportunities product at the multi-strat level.
Global: Rising Alts/HF Universes December 2020 vs. Prior 12 Months | ||
Rising eVestment Primary Universe | Universe's Rising Product | |
Macro - Discretionary | Wellington Management Company LLP: Commodities | |
Macro - Quantitative | Record Currency Management Ltd: Dynamic Hedging US | |
Macro - Multi-Strategy | J.P. Morgan Investment Management Inc.: JPM Global Macro Opportunities | |
Alternative Risk Premia | AQR Capital Management LLC: Global Style Premia Long Only Equity | |
New | Event Driven - Multi-Strategy | York Capital Management (US) Advisors, L.P.: York Investment Ltd |
New | Managed Futures - Quantitative | Capital Fund Management SA: CFM Discus Program |
New | Origination & Financing | BlackRock: Global Renewable Power III |
Fundamental - Long Only Equity | SRS Investment Management, LLC: SRS Long Opportunities Master Fund LP | |
New | Event Driven - Activist | P2 Capital Partners, LLC: P2 Capital Fund, LP |
New | Fund of Funds - Event Driven | Corbin Capital Partners, L.P.: Corbin ERISA Opportunity Fund |
Time will tell if this increased interest in macro funds turns into positive net asset flows. eVestment's data at the end of November last year shows -$18.5bn of outflows from macro hedge funds overall in 2020.
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