eVestment's Top Hedge Funds In March 2020
Our monthly peek into eVestment's subscriber activity sees AQR Capital Management's DELTA Strategy re-take the top spot in the most viewed product category. Last month, New York-based Moerus Capital Management's Global Value Fund Master knocked DELTA off it's perch. Moerus fell out of the top 10 completely last month; Renaissance Technologies' Institutional Equities Fund stayed in second place, and P/E Investments' FX Strategy Standard came in third, a first appearance in the top 10 most viewed products for the Boston-based firm.
| Global: Most Viewed Alternatives Products March 2020 | ||
| Most Viewed Product's Firm Name | Most Viewed Product | |
| AQR Capital Management LLC | DELTA Strategy | |
| Renaissance Technologies LLC | Renaissance Institutional Equities Fund (RIEF) LLC | |
| New | P/E Investments | FX Strategy Standard |
| New | Allianz Global Investors | AllianzGI Structured Alpha 1000 |
| New | Select Equity Group, L.P. | SEG Partners Fund |
| New | BlackRock | Equitized Global Market Neutral |
| New | Autonomy Capital | Autonomy Master Fund Limited |
| New | Graham Capital Management L.P | Graham Quant Macro Portfolio |
| New | Angelo, Gordon & Co. | AG Mortgage Value Partners |
| New | Sirios Capital Management L.P. | Sirios Capital Partners II, L.P. |
At the firm level, Bridgewater moved back to the top spot that it held in January, but this month the firm's Pure Alpha 18% Volatility Strategy was Bridgewater's most viewed product, whereas in January Pure Alpha Major Markets was the COnnecticut-based investment manager's most viewed product. AQR came in second and RenTec was third.
| Global: Most Viewed Alternatives Firms March 2020 | ||
| Firm Name | Firm's Most Viewed Product | |
| Bridgewater Associates, LP | Bridgewater Pure Alpha 18% Volatility Strategy | |
| AQR Capital Management LLC | DELTA Strategy | |
| Renaissance Technologies LLC | Renaissance Institutional Equities Fund (RIEF) LLC | |
| Wellington Management Company LLP | Archipelago Partners, L.P. | |
| BlackRock | Equitized Global Market Neutral | |
| Man Group | Man AHL Dimension Programme | |
| Marshall Wace LLP | Marshall Wace - MW Eureka Fund | |
| New | Owl Creek Asset Management, L.P. | Owl Creek Overseas Fund, Ltd. |
| New | Winton Capital Management Ltd. | Winton Trend Fund (UCITS) |
| New | Neuberger Berman | Long Short Fund |
New for this month is a look into which products and managers are being looked at by eVestment's investor and consultant subscribers in different regions. United States-based subscribers looked most commonly at AQR's DELTA Strategy, and U.K-based subscribers favoured Sirious Capital Management's Sirios Capital Partners II product. European (excluding U.K.) subscribers were most interested in Marshall Wace's MW Eureka Fund last month.
| Regional: Most Viewed Alternatives Products in March 2020 | |
| Investor/Consultant Location | Most Viewed Products by Region |
| Africa/Middle East | P/E Investments: FX Strategy Standard |
| Asia ex-Japan | BlackRock: Equitized Global Market Neutral |
| Europe ex-UK | Marshall Wace LLP: Marshall Wace - MW Eureka Fund |
| Japan | Nomura Asset Management: Nomura Global Alternative/ Smart Premium/ Standard Type (JPY) (C610041) |
| United Kingdom | Sirios Capital Management L.P.: Sirios Capital Partners II, L.P. |
| United States | AQR Capital Management LLC: DELTA Strategy |
At the firm level, the results are a who's who of investment managers.
| Regional: Most Viewed Alternatives Firms March 2020 | |
| Investor/Consultant Location | Most Viewed Firms by Region |
| Africa/Middle East | Bridgewater Associates, LP |
| Asia ex-Japan | BlackRock |
| Europe ex-UK | Wellington Management Company LLP |
| Japan | Nomura Asset Management |
| United Kingdom | Owl Creek Asset Management, L.P. |
| United States | AQR Capital Management LLC |
At the rising product level - those products whose views last month were higher on a relative basis versus their 12-month rolling average - P/E Investment's FX Strategy Standard was the winner, followed by Allianz Global Investors' AllianzGI Structured Alpha 1000 and BlackRock's Equitized Global Market Neutral product.
| Rising Alternatives Products March 2020 vs. Prior 12 Months | ||
| Rising Product's Firm Name | Rising Product | |
| New | P/E Investments | FX Strategy Standard |
| New | Allianz Global Investors | AllianzGI Structured Alpha 1000 |
| New | BlackRock | Equitized Global Market Neutral |
| New | Owl Creek Asset Management, L.P. | Owl Creek Overseas Fund, Ltd. |
| New | Winton Capital Management Ltd. | Winton Trend Fund (UCITS) |
| New | Neuberger Berman | Long Short Fund |
| New | Renaissance Technologies LLC | Renaissance Institutional Diversified Alpha Fund (RIDA) LLC |
| New | UBS Asset Management | Nineteen77 Global Multi-Strategy Alpha (managed by UBS O’Connor LLC) |
At the firm level, Owl Creek Asset Management was the biggest riser, with the firm's Owl Creek Overseas Fund Ltd the firm's biggest rising product.
| Global: Rising Alternatives Firms March 2020 vs. Prior 12 Months | ||
| Firm Name | Firm's Rising Product | |
| New | Owl Creek Asset Management, L.P. | Owl Creek Overseas Fund, Ltd. |
| New | Bridgewater Associates, LP | Bridgewater Pure Alpha 18% Volatility Strategy |
| New | Magnetar Capital LLC | Magnetar Systematic Multi-Strategy Fund LLC |
| New | Allianz Global Investors | AllianzGI Structured Alpha 1000 |
| New | LIM Advisors Limited | LIM Asia Multi Strategy Fund |
| New | Neuberger Berman | Long Short Fund |
| New | Renaissance Technologies LLC | Renaissance Institutional Diversified Alpha Fund (RIDA) LLC |
| New | Wellington Management Company LLP | High Haith Partners, L.P. |
| New | P/E Investments | FX Strategy Standard |
| New | Shannon River Capital Management LLC | Shannon River (FKA Doonbeg) Ltd. |
Strategy-wise, fundamental long/short equity is still the most popular strategy but event-driven multi-strat is the biggest riser, with Owl Creek again driving interest in that sector of the hedge fund universe. Owl Creek was the most viewed firm by U.K-based eVestment subscribers last month.
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