When writing about the institutional marketplace, global financial media relies on eVestment as the source for data intelligence. eVestment offers data and insights across a variety of asset classes, including traditional, alternatives and private markets. For data or media requests, please contact our media team.
eVestment in the media
CityWire: April’s most popular PM searches
eVestment, a database used by institutional investors, breaks down the most searched for categories, strategies, and managers, both in the US and at a global level for the past month.
Bloomberg: Hedge funds betting on deals see best start to a year in decades
The feverish market for corporate marriages has created a fertile hunting ground for hedge funds that are raking in bumper profits from betting on the success and failure of big-ticket deals. Event-driven hedge funds attracted nearly $4 billion, the most for any strategy, while their peers saw $59 billion of net withdrawals, according to data compiled by eVestment.
Qpalesque: Bridgewater, Lighthouse, AQR Capital, Renaissance Technologies among tops for alternatives/hedge fund brand awareness
Bridgewater Associates, Lighthouse Investment Partners, UBS Asset Management, GAM Investments and Water Island Capital took the top five spots, in that order, in brand awareness in the Alternatives & Hedge Fund category among investment consultants using eVestment, according to the just-released Brand Awareness Rankings from eVestment.
AQR Capital Management, Bridgewater Associates, Renaissance Technologies, Lighthouse Investment Partners and FORT took the top five spots in the Alternatives & Hedge Fund category among the institutional investors using eVestment, according to the new report.
AlphaWeek: eVestment’s top hedge funds in April 2021
1060 Capital Management’s 1060 Capital Opportunity Fund, LP was the most eyeballed product on Nasdaq subsidiary eVestment’s platform last month, moving up one spot from March.
FundFire: Wellington, BlackRock attract top views from asset owners on eVestment
Wellington Management Company, BlackRock and MFS are among the brand names most frequently viewed in eVestment’s database by asset owners and consultants, a new report by the Nasdaq-owned company shows. The database provider examined managers based on firm and product viewership among investment consultants and asset owners in the first quarter of 2021, and used a metric based on those views to gauge brand awareness. Managers can gain access to these scores and rankings on a quarterly basis upon request.
Pensions & Investments: Hedge funds attract a net $18 billion in first quarter
Global hedge fund strategies saw net inflows of $17.7 billion in the first quarter, driven by strong performance and inflows into multistrategy funds, a report from eVestment said Friday. By comparison, hedge fund strategies saw net outflows of $9.1 billion in the first quarter of 2020 and net outflows of $8 billion in the fourth quarter of 2020. Assets under management in hedge fund strategies increased 1.8% to $3.42 trillion for the three months ended March 31 and increased 16% compared with the same quarter a year earlier.
FundFire: Institutional investors seek securitized credit to hedge corporate risk
As pandemic concerns start to wane and interest rate sensitivity picks up, securitized fixed income strategies have caught the eye of some institutional investors looking to diversify their fixed income portfolios. The U.S. securitized fixed income market recorded $372 billion in U.S. institutional assets under management at the end of 2020, according to the latest eVestment data. The category has pulled in inflows for much of 2020, reporting U.S. institutional net inflows of $7.8 billion in the second quarter, $9.6 billion in the third quarter and $2.4 billion in the fourth quarter.
Pittsburgh Post-Gazette: It was going to be a cozy firm, not too tech-heavy. Then, the pandemic hit
Jodi Amos and Newlin Archinal took a leap of faith a year ago to open 4Rivers Wealth Management, with their Green Tree company becoming one of only a handful of independent financial advising firms in this region owned by women. According to eVestment, a Nasdaq platform that provides data to the investment community, in June 2020, women owned an ownership share in 19.8% of the 2,045 asset management companies surveyed. That compares to 9.9% for Asian-owned, 4.1% for Hispanic-owned and 3.6% for Black-owned.
HedgeWeek: Hedge fund titans fight back as larger managers pull ahead in March
Larger hedge funds have entered the second quarter on a high after a staging an impressive fightback which saw them generate above-average returns in March after lagging the industry average during the first two months of the year. The 10 biggest hedge fund managers reporting to eVestment’s database experienced gains of 1.12 per cent in March, compared to an industry average return of 0.83 per cent last month.
Reuters: Top pension manager IMCO re-allocating $3 bln global hedge fund portfolio
IMCO, a top pension manager in Canada with C$73.3 billion ($58.5 billion) in assets under management, had allocated 5% of their portfolio to fund of hedge funds. Investor searches for fund of hedge funds fell to under 8% in the last quarter of 2020, down from closer to 14% in the first quarter of 2016, according to data provider eVestment.
CityWire: March’s most popular manager searches
eVestment, a database used by institutional investors, breaks down the most searched for categories, strategies, and managers, both in the US and at a global level for the past month.
FundFire: Investors set to reposition portfolios for a decade of slower growth
Coming out of the pandemic, institutional investors are expecting a decade of lower returns and are reevaluating their portfolio allocations accordingly. Institutional investment consultants’ 10-year return assumptions have declined year-over-year across nearly all asset classes, according to a recent study from eVestment and Nasdaq.
Pensions & Investments: Managers see good times ahead in 2021
Net inflows into hedge funds are “following better performance and there is more return dispersion among hedge fund managers than I’ve seen for a couple of years,” said Peter Laurelli, eVestment LLC’s global head of research. Year-to-date through Feb. 28, net inflows totaled $23.7 billion, up from net outflows of $59.3 billion in all of 2020 and $102.3 billion in 2019, eVestment data showed.
Institutional Investor: Consultants are predicting lower returns again
Investment consultants’ performance expectations for their institutional clients are continuing to decline, new data from eVestment shows. Major industry players’ ten-year return assumptions dropped across nearly every investment strategy on a year-over-year basis, according to the data, which was published on Thursday.
AlphaWeek: Hedge funds continue strong start to 2021 with elevated asset flows
Positive flows for the industry have been the norm since 2009, but the $16.44bn investors added to hedge funds last month made this the best two-month start for the business since 2014. According to eVestment Global Head of Research Peter Laurelli, eVestment data shows the majority of funds seeing new money in February.
Institutional Asset Manager: JP Morgan and Northern Trust among six new OCIOs contributing to AlphaNasdaq OCIO Index
Six new OCIOs began contributing to the AlphaNasdaq OCIO Index in the fourth quarter, further solidifying the index as the investment industry standard for providing transparency and benchmarking in the OCIO industry. “We’re thrilled to see the investment industry continue to embrace the indices, giving asset owners an independent and authoritative way to judge the value-add from their OCIO providers,” says eVestment Global Head of Insights John Molesphini. eVestment worked with Alpha Capital Management and parent company Nasdaq on creating the indices.
Asian Investor: Chinese equities at risk of more US capital flight
China’s CSI 300 benchmark index may have stumbled in its march upwards – having fallen 13% since February 10 – but the overall trend is that money is pouring into A-shares and H-shares. Net institutional flows into China and Hong Kong equity products totalled $16.84 billion last year, up from $4.03 billion in 2019, according to research house eVestment.
CityWire Asia: Hedge funds preferred, but manager selection is key
The Asia Pacific region, in particular China, is the most favoured for investments. Healthcare, fundamental, emerging markets, and technology, media, and telecom have topped the agenda. Among primary markets tracked by eVestment, equity-focused funds were the big performance winners in February, returning an average +4.06%, bringing YTD returns to +5.31%.
FundFire: Institutional investors show appetite for investment-grade ESG strategies
Institutional flows to ESG strategies within the core and investment-grade fixed income asset class skyrocketed during the third and fourth quarters of 2020, according to data from eVestment. Strategies in those categories reported $12.75 billion in institutional net flows in the fourth quarter and $11.41 billion in the third quarter.
The Asset: Bay Capital picks eVestment to help grow global brand
India-focused investment manager Bay Capital Partners has decided to use data and analytics provider eVestment’s Omni solution to help grow its global brand and assets under management (AUM). With the solution, Bay Capital will be able to provide data on its institutional strategies to the eVestment database, and to numerous third-party and consultant databases around the world through the same portal.
CityWire: February’s most popular manager searches
eVestment, a database used by institutional investors, breaks down the most searched for categories, strategies, and managers, both in the US and at a global level for the past month.
FundFire: Consultants put equity asset managers on watch at greater rates in 2020
Consultants downgraded equity asset managers at greater rates in 2020 than the previous two years, according to data compiled by eVestment. In the first half of the year, as the coronavirus pandemic swept the U.S., and markets roiled and then rebounded, equity-manager downgrades more than doubled, from 35 to 85.
Hedge Fund Alert: eVestment taking stock of industry diversity
Responding to subscriber demand, eVestment is compiling employment data to keep tabs on gender and minority hiring at hedge funds. The fund tracker began collecting the information six weeks ago and has heard from more than 400 firms across the spectrum of investment strategies. “We’re excited about the [response] rate. It seems to be increasing by dozens of firms and strategies every single day,” John Molesphini, head of insights at eVestment, said in a February webinar.
FundFire: US active growth equity posts largest institutional outflow on record
U.S. active growth equity strategies set a new record for institutional net outflows, according to recent data from eVestment. The universe of institutional U.S. active growth equity strategies bled $48.1 billion in the fourth quarter, ending the year with $1.87 trillion in assets under management, according to the latest eVestment data. Up until now, the category’s single-largest quarterly institutional outflow was $43 billion during the third quarter of 2016.
Bloomberg: Hedge funds are on the mend, if not yet fixed
For the industry as a whole, investors allocated $6.4 billion of fresh cash to hedge funds globally in January, leaving the industry’s total assets at a bit more than $3.3 trillion, according to research firm eVestment. Those inflows come after three years of withdrawals worth more than $192 billion. Outflows last year, though, slowed to less than $53 billion, about half of 2019’s total.
Institutional Asset Manager: Prospect of higher inflation turns investors bearish on fixed income funds
Fixed income funds enjoyed a good year in 2020, with strong investment flows from investors seeking safety in central bank-supported bonds, as the pandemic ripped apart stock markets. In the last quarter alone, institutional investors poured USD177.6 billion into fixed income strategies, according to eVestment data. In the same period, they withdrew USD117.4 billion from active US equities.
HedgeWeek: Hedge funds cement successful start to 2021 as more investor money pours into industry
Hedge funds attracted USD6.39 billion of new capital last month as investors piled into a wide variety of strategy types, particularly macro and managed futures, according to new industry data from eVestment.
Reuters: Sovereign wealth funds pull $16.3 billion from market strategies in Q4
Sovereign wealth funds pulled $16.3 billion from public market investment strategies, largely equities, in the fourth quarter, the most in almost four years, driven largely by redemptions, according to data and research firm eVestment.
Opalesque: Majority of hedge funds see positive performance in January, but larger funds lag
Hedge funds started 2021 on a high note with average industry performance of +1.02% with 59% of funds seeing positive results for the month, according to the just released eVestment January 2021 hedge fund performance data. This follows a tumultuous 2020 which saw the hedge fund business return an average +11.07%.
Institutional Asset Manager: Public pension plans invest USD154.6bn in private markets in 2020, but appetite for real estate and real assets plummets
Public pension plans tracked by investment data and analytics firm eVestment reported USD154.6 billion of commitments to private markets funds in 2020. This is a 2 per cent increase from 2019’s totals. Across all private fund commitments eVestment tracks, pension giant CalPERS was the biggest allocator of capital to private markets, with USD19.94 billion of commitments reported.
Reuters: Hedge funds bet on oil’s ‘big comeback’ after pandemic hobbles producers
Hedge funds are turning bullish on oil once again, betting the pandemic and investors’ environmental focus has severely damaged companies’ ability to ramp up production. The view is a reversal for hedge funds, which shorted the oil sector in the lead-up to global shutdowns, landing energy focused hedge funds gains of 26.8% in 2020, according to data from eVestment. By virtue of their fast-moving strategies, hedge funds are quick to spot new trends.
FundFire: eVestment makes headway with D&I data collection, sets ‘lofty’ goal
Evestment has collected diversity and inclusion data from approximately 10% of assets represented in its database, after launching an effort to map diversity and inclusion in the asset management industry. Responses from more than 345 managers assembled during the first data-collection month exceeded eVestment’s expectations, says global head of data strategy Erika Spence.
IPE: AP1 external manager chief: ‘I’d be very hesitant to rely just on Zoom’
The man in charge of external asset management at Swedish national pension fund AP1 said it would be very difficult for the SEK355bn (€35bn) buffer fund to take on a new asset manager while COVID-19 continues to limit contact to video meetings. Chammas said AP1 had not in fact tried to make any new investments or initiate any new relationships with any manager since the pandemic began, having instead been busy with the implementation of its fossil fuel-free strategy which involved existing managers. “So the answer is probably we haven’t been tested yet,” he said, in the podcast produced by institutional investment data firm eVestment.
FundFire: A decade of growth: How the biggest managers consolidated their AUM advantage
The industry’s largest managers continued to expand their AUM leads over midsized competitors over the past decade, as companies with passive product suites seized an asset-gathering advantage. The secular migration to passive boosted the fortunes of other large industry players too. Exchange-traded fund (ETF) behemoth Vanguard saw the greatest percent increase in total growth among large industry firms, catapulting to $6.07 trillion in AUM in 2020 from $1.64 trillion in 2010, according to eVestment data.
Institutional Investor: Meketa will require managers to report on diversity efforts
Meketa’s decision to provide more rigorous diversity and inclusion research is the latest in a series of diversity initiatives launched by major investment consultants in the last couple of years. Most recently, consulting and OCIO firm Verus partnered with asset management data firm eVestment to question managers on team and firm-wide diversity statistics, as well as their policies for supporting diversity and inclusion.
FundFire: Hedge fund investors pull $59B in ’20 despite performance gains
For the third year in a row, hedge funds faced sizeable redemptions despite the overall industry posting stronger performance in 2020. But ongoing uncertainty wrought by the global pandemic is drawing new investor attention to hedge funds and driving managers to introduce a wider range of alts products in the hunt for yield and returns, experts say. Investors pulled $58.76 from hedge funds in 2020, including approximately $9.74 billion in December alone, according the latest data from eVestment. The withdrawal total was down from 2019, when investors had redeemed $102.25 billion, but above the $37.18 billion in 2018.
Opalesque: Global hedge fund industry ends 2020 with positive signs for 2021
Investors pulling $58.76 billion from hedge funds around the world in 2020 may not be cause for celebration, but that $58.76 billion in redemptions was dwarfed by the $102.25 billion investors pulled from hedge funds in 2019. And while investors pulled $9.74 billion from hedge funds in December, since 2009 the average December net flow has been -$16.5 billion. This makes December’s $9.74 billion redemption “a decent figure for the industry,” according to eVestment Global Head of Research Peter Laurelli, writing in the investment data and analytics firm’s just released December and year-end 2020 hedge fund asset flows data.
Bloomberg: The hedge fund roller coaster ride got even wilder last year
Hedge funds delivered average gains for investors of a bit more than 11% last year, their best performance since the tumultuous markets of 2009 enabled them to generate more than 19%, according to industry research firm eVestment. The numbers “are among the worst and the best I’ve seen them produce,” Peter Laurelli, eVestment’s global head of research, said. “There were more large funds with double-digit gains and double-digit losses than not in 2020.”
AlphaWeek: 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.
Reuters: Irresistible? Pension funds plot move on China’s $16 trillion bond market
China’s $16 trillion bond market is the proverbial elephant in the investment room. But it’s becoming too big to ignore, even for the most risk-averse Western investors. Of the $9.5 trillion of assets under management from corporate and public pension funds globally, 0.26% was held in Chinese bonds as of the third quarter of 2020, up from 0.04% in 2015, according to data from institutional asset managers shared with financial data provider eVestment.
CityWire Asia: HNWIs keen to increase ‘hedge fund’ exposure thanks to strong performance
Investors are planning to increase allocation to hedge funds in the first half of 2021 and are prepared to pay higher fees, provided strong risk-adjusted returns are delivered. Data from eVestment show hedge funds returned +11.02 in 2020, outpacing 2019’s +10.07%.
Hedge Week: New industry data reveals “significant” gulf between gains and losses among largest hedge funds
Hedge fund managers have experienced “significant” performance dispersion over the past 12 months, with the biggest funds seeing the largest gaps between gains and losses, new industry data shows, once again underlining the importance of investor due diligence in separating winners from losers. Hedge funds globally ended a tumultuous 2020 on a high, generating an average monthly gain in December of some 4 per cent, to bring full-year returns to more than 11 per cent, according to newly-published year-end performance data from eVestment.
Opalesque: November 2020 private equity investments rebound from October slump
Announced investments to private equity funds rebounded in November from a brief slump in October, according to the just-released eVestment Private Markets Monitor covering November 2020. Public pensions in the United States, United Kingdom and Canada tracked by eVestment reported $9.6 billion of commitments to private equity funds in November, compared to only $4.2 billion in new private equity commitments in October.
Barrons: Activists are primed for action in 2021
While 2020 appeared to be a relatively quiet year for activist campaigns, it turned out to be a strong year for returns, providing some activist funds with hefty arsenals. The average activist hedge fund was up 11.8% through November of last year, eclipsing the performance of the typical hedge fund, which gained 6.9% over the same period, according to eVestment data. A number of activists racked up stellar returns.
Alpha Week: Managed futures strategies deliver solid year amidst market tumult
Managed futures investors are sometimes accused of being fickle with their allocations and the data backs it up; according to eVestment, managed futures strategies were down -3.96% in 2011 and up only +2.46% in 2012 and +3.04% in 2013.
FundFire: eVestment partners with Aon on operational diligence database
Aon and eVestment are collaborating to collect standardized operational due-diligence data from asset managers through the tech provider’s platform, the two firms announced Thursday. As part of the effort, which will be rolled out on eVestment in the coming months, asset managers will be asked to submit, through the portal, responses to an operational due-diligence questionnaire drafted by Aon.
Chief Investment Officer: Consulting firms ask asset managers to disclose diversity data
More than one dozen consulting firms are forming a diversity coalition amid greater calls for progress toward racial equity at the asset manager level. The group, calling itself the Institutional Investing Diversity Cooperative (IIDC), stewards more than $4 trillion in assets and is seeking more transparent data on diversity from investment teams, according to a release from investment consultant and outsourced chief investment officer (OCIO) provider Verus and research firm eVestment.
CityWire: 2020’s most popular manager searches
eVestment, a database used by institutional investors, breaks down the most searched for categories, strategies, and managers, both in the US and at a global level for the past year.
Investment Week: The reinvention game – why company rebranding has gone beyond giving logos a facelift
In a world full of chaos, volatility and uncertainty, investors will seek reassurance wherever they can find it, many would argue a confident, robust brand is one vehicle through which that reassurance can be delivered. Research cited by BNY Mellon Investment Management revealed that asset managers with both high firm and product awareness attracted on average 20.3x higher inflows than those with low awareness. The eVestment research found that while brand awareness was important for all asset managers, it was even more so for larger firms, with the impact significantly stronger for firms with more than $100bn in assets under management.
Institutional Asset Manager: Aon and eVestment to offer ODD data and research to institutional investors
Aon and eVestment have formed a strategic partnership to provide operational due diligence (ODD) research through the eVestment platform, recognising the need for more transparency and standardisation of ODD information. The new ODD offering will initially be available for purchase to asset owners through the eVestment platform, which nearly 1,000 institutional investors in more than 40 countries rely on to source their asset managers.
Washington Post: Bitcoin’s biggest fans are hedge fund baby boomers
Bitcoin is the ideal holiday gift for an underperforming hedge fund manager. Just ask SkyBridge Capital’s Anthony Scaramucci, who is diving in after his fund of hedge funds posted its worst annual performance since 2008. That’s unlikely to be a coincidence. It could also provide a very convenient halo effect for an industry that has been shrinking for several years. Customers withdrew $50 billion last year, leaving the total amount managed at a bit less than $3.3 trillion, according to eVestment.
Pensions & Investments: Consultants create group to focus on industry diversity
More than a dozen institutional investment consulting firms have formed the Institutional Investing Diversity Cooperative to increase data and transparency around diversity in the asset management industry, the group said Tuesday. The group also unveiled a data questionnaire developed by eVestment to gather diversity data from asset management firms. Erika Spence, global head of data strategy for eVestment, an institutional data and analytics firm, said in the statement there is a continuous interest in how managers think about diversity and inclusion, including policy and its implementation.
Reuters: Hedge fund manager Scaramucci launches cryptocurrency fund
Anthony Scaramucci’s firm SkyBridge Capital is the latest traditional fund manager to launch a bitcoin-focused fund after a surge of interest in cryptocurrencies in 2020. However, data from eVestment shows searches for cryptocurrency hedge funds on their database made up just 0.14% of all hedge fund searches in 2020.
Bloomberg: Bishop’s Impala Fund, up 30% in 2020, sees commodity bull market
The hedge fund industry as a whole saw outflows last year, but those focused on commodities had managed to raise money. They pulled in more than $4 billion in flows through October compared with about $55 billion in outflows from the industry overall, according to data from eVestment.
Reuters: Brexit trade deal sparks relief but UK market will bear scars
The British currency remains around 20% below its long-term fair value. Few expect it to recover fully in the near term. The underperformance is largely driven by foreign investors dumping UK assets. Financial data provider eVestment estimates European and U.S.-domiciled investors have pulled more money than they have added into UK stocks almost every quarter between the referendum and the third 2020 quarter.
Institutional Asset Manager: eVestment forms consultant board to advise on investment industry trends
eVestment, a specialist in institutional investment data and analytics, has launched a consultant advisory board comprising a broad range of investment consultant clients from both global and regional firms. Board members will provide strategic input to eVestment on the evolving data needs of consultants and will have regular opportunities to discuss and analyse dynamic trends in the institutional market.
Institutional Investor: For this allocator, active management paid off
For years, passive investing, or a strategy by which allocators invest using indexes rather than asset and manager selection, has been favored for low cost, consistently strong performance. Actively managed portfolio performance has been mixed in 2020 — but for TIFF, it paid off. The average active traditional equity fund returned 7.75 percent in the third quarter, according to data from eVestment, but is still down 0.55 percent for the year.
AlphaWeek: eVestment’s top hedge funds in November 2020
1060 Capital’s Opportunity Fund was the most viewed hedge fund overall on the eVestment platform in November, maintaining its first place from October. Second and third saw new entrants, however, with 400 Capital Management and Lakewood Capital Management rounding out the top three.
Washington Post: Hedge funds had a fine year. That’s not enough
Despite its enduring mystique as the smartest corner of finance, the hedge fund industry has been shrinking in recent years as investors disappointed by underwhelming returns increasingly favor lower-cost alternatives for managing their money. So investors have been shunning the sector, withdrawing a net $42.4 billion between April and June for a ninth consecutive quarter of outflows, data collected by research firm eVestment show. The total amount managed by the industry has dropped below $3 trillion for the first time since 2014.
CityWire: The shops that top institutional investors’ Christmas wish list
eVestment, a database used by institutional investors, breaks down the most searched for categories, strategies, and managers, both in the US and at a global level in the month before Christmas.
Institutional Asset Manager: FountainCap’s UK mandate win highlights how globalisation and technology are changing the institutional investment world
Chinese long-only equity manager FountainCap Research and Investment recently won an investment mandate from the UK’s USD60 billion (US) Border to Coast Pensions Partnership, one of the eight UK local government pension pools. Steven Luk, Partner at FountainCap, says the firm began using institutional investment data and technology provider eVestment in May 2019, starting with eVestment’s Omni solution to help FountainCap build its global brand.
Wall Street Journal: Some small hedge funds reap big gains in tough times
Hedge funds are trailing the U.S. stock market this year. Some of the smallest funds are emerging as some of the best performers, driving greater demand for these types of managers. Even for smaller funds, double-digit returns haven’t been the norm. As of Oct. 31, the most recent data available, funds with less than $250 million in assets returned 1.12%, according to research firm eVestment.
Bloomberg: Traders quit banks to earn $4.8 million hedge fund salaries in Brazil
As hedge funds around the world shrink because of low returns and high fees, one country is bucking the trend: Brazil, where traders are quitting their bank jobs in droves to try their luck at potential multimillion-dollar payoffs. It’s a stark contrast to what’s happening globally. Worldwide, hedge funds this year posted almost $55 billion in outflows through October, after losing $102 billion in 2019, according to data compiled by eVestment.
Pensions & Investments: Pension funds continue private equity investing spree
U.S. public pension plans showed a continuing appetite for private equity funds in October, according to eVestment’s latest Private Markets Monthly Monitor. Twenty-six pension plans reported 69 private equity fund commitments totaling $3.6 billion in commitments to private equity funds, well above the 48 commitments totaling $2.4 billion reported in October 2019.
Bloomberg: Former Citadel duo plan hedge fund startup
Citadel, one of the largest hedge funds in the world and employing dozens of traders, has been a launchpad for several managers to enter the $3 trillion industry. Yet it’s becoming difficult to start hedge funds in the current tough capital-raising environment, with investors retreating from the industry following years of mediocre returns and heavy losses during March’s market turmoil. More hedge funds have closed than started over the past five years. Investors have pulled more than $155 billion since the start of 2019, according to data compiled by eVestment.
Pensions & Investments: Commentary: Improving manager diversity demands that shortcuts stop
The reality is that typical investment manager selection practices have the effect of being biased, albeit unintentionally, against women- and minority-owned firms. Such processes are fraught with behavioral biases and have the effect of diverting allocators away from diverse firms, which tend to be newer and smaller than their peers. Indeed, according to self-reported data from eVestment, there is a meaningful difference in size and tenure between firms with and without significant women or minority ownership.
Private Equity Wire: Private equity continues to lead pensions’ private markets commitments
Public pensions in the United States, United Kingdom and Canada tracked by eVestment continue to favour private equity investments over other private markets investment options, according to the latest eVestment Private Markets Monitor covering October 2020. For October, these pensions reported a total of USD3.62 billion in commitments to private equity funds, with an average commitment size of USD53 million. October 2020’s reported commitments were USD1.26 billion more than was reported in October 2019 (USD2.36 billion), but down significantly from the 110 commitments worth a total of USD12.72 billion these pensions reported in September 2020.
FundFire: Will value managers ever catch a break?
Value equity managers have had a rough decade, as years of underperformance relative to growth equity strategies have prompted some investors to question whether the strategy’s premise remains effective. While challenges remain, some value managers hope that a post-pandemic economic recovery will swing the pendulum back in value investing’s favor. The last time the value equity universe reported net positive institutional flows over a four-quarter period was from the third quarter of 2005 to the second quarter of 2006, when the category reported $2 billion in net inflows, according to eVestment data.
Hedge Nordic: Awaiting the holiday-season miracle
Money continues to flood out of hedge funds, with investors redeeming about $5 billion from the industry during the month of October, according to eVestment. Net outflows from the industry have added up to reach $54.7 billion for the year, which compares with the $102.3 billion investors pulled from hedge funds in 2019. “Barring a holiday-season miracle, overall hedge fund asset flows for 2020 will be negative too,” writes eVestment. According to eVestment, the hedge fund industry oversees $3.15 trillion in assets under management as of the end of October.
HedgeWeek: Investors flee equity and macro hedge funds, as 2020 heralds “career-defining moments” for many managers
Investor withdrawals from hedge funds are stacking up, with asset flows set to finish the year in negative territory “barring a holiday-season miracle,” eVestment warned on Thursday. Allocators yanked more than USD5 billion from hedge funds last month, with industry outflows in the 10-month period to the end of October reaching almost USD55 billion. Total hedge fund industry assets now stand at USD3.148 trillion globally, according to new eVestment research. Year-to-date outflows – which number USD54.67 billion – are still dwarfed by the 2019’s withdrawals, which hit USD102.25 billion, indicating hedge funds have at least partly stemmed the tide of investor redemptions this year
Institutional Asset Manager: Investors continue to divert flows from equity strategies into fixed income
Institutional investors allocated USD220.5 billion to fixed income strategies in the third quarter of 2020, with most of this going toward US bond managers, as rising coronavirus cases and the run-up to the US election kept appetites for risk low. Inflows to US fixed income totaled USD139.4 billion for active and USD35.1 billion for passive, according to the latest eVestment Traditional Asset Flows report. Institutional investors redeemed USD200.3 billion from long-only equity managers in the same period, almost half of which came from active US equity strategies.
FundFire: eVestment to offer Alpha Nasdaq OCIO performance data through platform
eVestment is now offering access to the Alpha Nasdaq outsourced CIO (OCIO) performance indices to help asset owners benchmark the performance of their providers. “Asset owners are looking for better ways to understand their own portfolio performance, whether they make their own decisions or whether they outsource that decision-making function,” Daniel Brickhouse, senior product manager at eVestment, said in a statement. “The Alpha Nasdaq indices are the first of their kind to offer this valuable context,” he added.
Reuters: Sovereign wealth funds rotate from U.S. stocks to bonds
Sovereign wealth funds pulled $4.1 billion from United States stocks in the third quarter, while adding to their U.S. bond holdings by the most in at least three years, data showed on Wednesday. Around $4.5 billion was sucked into U.S. fixed income, with the bulk into short-duration instruments, according to the eVestment data on strategies managed by third-party fund managers.
Institutional Asset Manager: eVestment is the first investment management platform to offer access to Alpha Nasdaq OCIO Indices
eVestment, a specialist in institutional investment data and analytics, has become the first institutional investment platform to offer access to the Alpha Nasdaq OCIO Indices. “eVestment’s goal is to provide our clients with data and tools that increase transparency and help them make better decisions,” said eVestment Head of Data Strategy Erika Spence. “Offering the Alpha Nasdaq OCIO Indices is a natural fit for us. Transparency in the OCIO space has been a challenge, with no reliable way to compare and monitor OCIO providers until now. eVestment is pleased to be the first data and analytics platform to offer this intelligence.”
CityWire Asia: Hedge funds post mixed returns, China shines YTD
The hedge funds industry has continued to record lower performance in October and year-to-date, but some strategies managed to shine amid the Covid-19 pandemic. The average return in the sector came in at -0.21% last month and barely positive at +0.74% YTD. This is a stark contrast from the +10.05% the industry registered in 2019, just released data by eVestment show. While China-focused funds only recorded +0.21% in October, these funds are leading the industry YTD with average performance of +18.45%.
Opalesque: Hedge fund performance declines in October for the second month in a row
Hedge funds continued to face a difficult market environment in October as for a second consecutive month the majority of funds saw performance declines, said a report by eVestment. According to the report, the average return in the hedge fund industry came in at -0.21% in October. The tough first quarter of the year leading up to the global pandemic and the past two months have left the industry at a just-barely-positive +0.74% return year to date (YTD). This is a stark contrast to the +10.05% return the industry put up for all of 2019.
HedgeWeek: Hedge funds see second consecutive month of average performance decline
Hedge funds continued to face a difficult market environment in October as for a second consecutive month the majority of funds saw performance declines. However, eVestment Global Head of Research Peter Laurelli notes that October’s results highlight the importance of due diligence and fund selection as, in spite of unimpressive average performance figures in October and YTD, many funds are doing quite well and making their investors very happy.
Financial Times: Funds cut cash holdings to pre-pandemic levels
Fund managers cut their cash stockpiles to record lows as they piled in to buoyant stock markets in the second and third quarters, prompting concerns over how they would cope with a fresh surge of investor redemptions. However, new research by data provider eVestment shows cash positions have sunk back to their pre-coronavirus levels. But Peter Laurelli, eVestment’s head of research, said the sharp decline in cash holdings was surprising given the likelihood of fresh market turmoil in response to looming economic pain from a second wave of coronavirus lockdowns.
CityWire: Institutional investors’ top strategy searches in October
eVestment, a database used by institutional investors, breaks down the most searched for categories, strategies, and managers, both in the US and at a global level, over October.
Institutional Investor: The pandemic hasn’t kept pensions from hiring private equity managers
The inability to meet with asset managers in person has not kept public pension funds from investing in private equity, according to eVestment. The investment data firm said in a private markets report that pension funds committed $20 billion to private equity in the third quarter, more than the $17.8 billion invested in the same period last year. The second quarter had been even busier, with commitments totaling nearly $25 billion.
Property Funds World: Pandemic-related shutdowns continue to hit real estate and real asset deals; private equity and private debt investments recovering, says eVestment
In the third quarter of 2020, pension funds in the United States, Canada and the United Kingdom monitored by eVestment’s Market Lens reported total commitments to private markets investments of just over USD34 billion, according to the latest eVestment Private Markets Monthly Monitor. Commitments to real estate and real asset investments continue to suffer from apparent concerns about the Covid-19 pandemic’s long-term impact on real estate markets and global economic growth. Private Equity and Private Debt fundraising, on the other hand, is seeing new strength.
FundFire: Multistrat hedge funds lead battle for ‘experienced’ talent
After a COVID-19 induced hiring lull in the spring, hedge funds have ramped back up, with multi-strategy funds continuing to lead the industry’s activity – and signs of an active recruiting environment in 2021. While investors pulled $9.6 billion overall from hedge funds in September, bringing year-to-date redemptions numbers to $47.7 billion, that total is still much lower than at this time in 2019, according to data from eVestment. And many multi-strategy funds have put up double-digit performance numbers so far this year, sources told FundFire.
Hedgeweek: Winners and losers: How 2020’s hedge fund performance is now weighing more heavily on investor allocations
New industry research shows that while allocators removed USD9.6 billion from hedge funds during September, they still pledged some USD8 billion to the industry throughout Q3 – the first time since Q1 2018 that hedge funds registered positive quarterly inflows. “The data is showing it over and over across multiple strategies, that those gaining new assets are among the outperforming managers, while the largest redemptions are coming from those with elevated losses,” eVestment said this week.
Alpha Week: Hedge funds enjoy first quarter of net inflows for two and a half years
Investors removed an estimated $9.66bn from hedge funds in September, but that was not enough to prevent the industry enjoying its first quarter of positive net inflows since the first quarter of 2018. Data from eVestment suggests that $8bn was allocated to hedge funds in the third quarter of the year, although year to date the industry is still seeing net outflows of -$47.75bn.
Institutional Investor: These allocators say they are sticking with value managers
Data firm eVestment reported in August that value strategies were among the biggest drivers of institutional outflows in the second quarter. Large-cap U.S. value strategies had net outflows of more than $10 billion, while global large-cap growth funds took in just under $10 billion. The data firm said that U.S. large-cap and small-cap value strategies were among the three most viewed U.S. strategies among consultants using the eVestment platform.
AM Watch: Active strategies in Nordic equity came out on top of the world in Q3 – but trail China YTD
Fund managers investing in Nordic equities on average generated the highest quarterly returns across the equity universes in financial data firm eVestment’s database. This development was led by products from local managers like SEB and Fondsfinans Kapitalforvaltning and global player BNP Paribas Asset Management, according to eVestment Global Head of Research.
Opalesque: Active strategies’ rebound continued in Q3 2020
Active investment managers across a variety of asset classes and regional exposures followed their historic Q2 returns with continued gains in Q3 2020. Returns were not consistently positive throughout the quarter as losses were the norm in September. The road ahead is filled with uncertainty around US elections and the global response to COVID-19 in the coming months. The data pulls some high points from eVestment’s monthly and quarterly institutional investment performance data and highlights historic quarterly returns, particularly among Equity strategies, globally.
CityWire: The shops that topped institutional investors’ searches in September
eVestment, a database used by institutional investors, breaks down the most searched for categories, strategies, and managers, both in the US and at a global level.
Pensions&Investments: Verus, eVestment push for enhanced diversity reporting
Verus Advisory has teamed with eVestment to push money managers to disclose more workforce data on gender and ethnic diversity. The joint initiative will entail eVestment enhancing its questionnaires to request data on diversity at firmwide and investment team levels as well as information on money managers’ efforts to increase gender and ethnic diversity within investment and senior leadership roles, according to a news release from Verus, a Seattle-based investment consultant and OCIO firm. eVestment, an institutional investment data and analytics firm in Atlanta, previously collected diversity data on firm ownership and expects to update its manager questionnaires in time for its year-end data collection process.
AM Watch: Norwegian pension investor says it disinvests if a fund’s key people quit
Norwegian pension fund Fellesordningen for AFP (AFP) disinvests in funds in cases where key members of the team quits. Frode Veiby, who comments on the issue at a recent webinar hosted by eVestment, also describes the pension fund’s ongoing process of monitoring its external managers. “When we are investing in a new fund, what we find is not a company but a team of portfolio managers behind the strategy, and if one or several people in that team were to leave that would definitely be a large red flag for us,” he says.
IPE: Norway’s AFP sees key staff exits at external managers as deal breakers
The head of equities at a NOK42bn (€3.79bn) Norwegian pension fund has opened up about how the lean operation picks external managers and monitors them, saying the pension fund will drop a third-party fund rapidly if a key member of the team quits. Frode Veiby, head of equities at Fellesordningen for AFP (AFP), said in a webinar: “If a critical member of the team left, we would definitely disinvest quite fast.” Speaking in the online interview organised by US manager data provider eVestment – which AFP uses – Veiby described the pension fund’s ongoing process of monitoring its external managers.
Hedge Week: In hedge funds, success no longer depends on size, as biggest managers fall behind industry average in 2020
The biggest hedge fund managers are still lagging behind the wider industry’s performance on average in 2020, with larger strategies having fallen into the red over the past nine months while the industry overall is in positive territory, as hedge fund strategies of all stripes gave up some of their summer gains in September, according to new industry data. The ten largest hedge funds reporting performance to eVestment lost 1.06 per cent in September, generally in line with the wider hedge fund industry, which fell just over 1 per cent.
AlphaWeek: Hedge fund performance retreats in September after strong summer
Hedge funds dipped negative in September, according to data published by eVestment. Industry-wide average performance stood at -1.01% in September, putting YTD industry performance at just +1.04. The retreat comes after a five-month string of positive results from April to August, which pulled the hedge fund industry out of the performance hole created in the first quarter of the year as the COVID-19 pandemic ramped up.
FundFire: eVestment Expands ESG Questionnaire for Managers
eVestment has expanded its questionnaire on environmental, social and governance (ESG) factors, asking asset managers to provide consultants and asset owners using the database with more information on how they incorporate those factors into their investment processes and firm structures. The expanded questionnaire, which eVestment began rolling out in August, has 140 questions, as opposed to the 40 questions that were previously part of the ESG section. As of Wednesday morning, close to 2,000 strategies on the database had already converted to the new questionnaire, says Erika Spence, head of data strategy at eVestment.
Institutional Asset Manager: eVestment launches new ESG questionnaire
eVestment, a specialist in institutional investment data and analytics, has launched a new ESG questionnaire as part of its initiative to standardise ESG reporting. With input from institutional investors, consultants, managers and industry organisations, eVestment is bringing more insights and transparency to the ESG space. The new questionnaire is now available for all managers reporting data to eVestment and data and insights based on the new questionnaire are available to eVestment clients.
Financial Times: Hedge funds seek out emerging markets as Covid-19 continues to wreak havoc
As the Covid-19 pandemic continues to strike countries around the world, hedge funds are preparing for a host of debt restructurings in emerging economies. Interest in EMs, led by the Bric countries — Brazil, Russia, India and China — soared in the mid-noughties. But as the US stock market’s decade-long rally took hold after the financial crisis, interest waned. Since the start of 2011, EM-focused hedge funds were hit by net outflows in seven out of nine years, according to data group eVestment. But this year, funds have received a net $3.4bn in flows, even as investors have pulled money out of hedge funds overall.
IPE: Guest ViewPoint: Peter Laurelli, eVestment
Comparing asset management fees across firms, strategies and regions is not a simple task. There are frequently differences, sometimes large, in what asset managers state they charge in their marketing materials, and the fees they actually negotiate during due diligence and selection processes. These differences can vary on region, asset class, investment size and other factors. Having a better sense of the fees charged for different strategies, and how much discounting takes place, can benefit investors and managers.
FundFire: eVestment will start asking managers for staff diversity data in 2021
Starting in January, asset managers putting their data into eVestment will see an additional section in the questionnaire, asking them about internal diversity statistics and what kind of programs they have in place to improve. Behind the effort is a collaboration between the database provider and investment consultant and outsourced CIO (OCIO) Verus, a partnership that seeks to get better diversity data. “We’ve gotten a number of requests [for such data] in … the last 18 months, and the noise has gotten a lot louder around it in the past months,” says Erika Spence, global head of data strategy at eVestment. “It became apparent that we had a responsibility to try to do this.”
Reuters: Market volatility prompts investors to seek out long-short equity
Stretched valuations and the resulting pullback in equities have prompted more interest in long/short fund strategies that can provide some protection against market declines and wild swings, hedge fund and asset managers say. Data from industry tracker eVestment shows searches for long-short equity hedge funds on their database rose to a seven-month high in August, making up 17% of all hedge fund searches, compared with 11.1% in July.
Forbes: Hedge funds are finally seeing inflows
Hedge funds are gradually digging out of the hole they fell into during the first quarter of the year, but that hole was so deep that quite a bit of shovelling was needed. Data from eVestment indicates that activist hedge funds have been outperforming other hedge funds this year. Activist funds climbed 7.88% last month. On average, activist funds have gained 3.25%.
Hedge Nordic: Hedgie assets are flowing back
Investors poured $7.4 billion into hedge funds during the month of August, continuing the industry’s asset recovery journey following four consecutive months outflows from March through June. Investors added an additional $9 billion to the hedge fund industry in July, according to eVestment.
FundFire: Growth equity, high yield and REITs pique investor interest amid pandemic
U.S. high-yield, core fixed income, REITs and growth equity strategies have drawn increased attention from institutional investors using eVestment’s database since the onset of the pandemic. While elevated database viewership doesn’t necessarily signal an uptick in flows, U.S. high-yield and core fixed income did see an influx of money in the second quarter, as investors sought yield and safety.
Financial Times: UK hedge fund Makuria hit by oil slide and lockdown effects
Makuria Investment Management, founded in 2012 by Mans Larsson, lost about 29 per cent this year to the end of August, said a person who had seen the numbers. The firm tries to make money trading corporate credit, including distressed bonds — those trading well below par value. Multi-strategy credit funds are down on average 0.8 per cent this year to August, while directional credit funds — which take more of a bet on credit market moves — have lost 1.6 per cent as this year’s worst-performing strategy, according to eVestment.
Bloomberg: Hedge funds struggle as Nasdaq whale drives stocks higher
How can hedge funds possibly thrive in this world? Go big, or go home. Even before the pandemic hit, funds with large, concentrated bets were gaining market share. Last year, event-driven funds, which seek to profit from certain situations like mergers or takeovers, saw $11 billion of inflows, while the hedge fund industry as a whole witnessed more than $100 billion of withdrawals, estimates eVestment Inc., a Nasdaq Inc. company.
CityWire: Institutional investors’ most wanted: August’s hottest PM searches
eVestment, a database used by institutional investors, breaks down the most searched for categories, strategies, and managers, both in the US and at a global level.
AlphaWeek: eVestment’s top hedge funds in August 2020
This month’s peek into the clicking activity of eVestment’s institutional investor and consultant subscribers shows a new entry at the top of the pile, New York-based Nut Tree Capital Management. At the regional level, Gramas Growth Partners LP fund was the winner in the Asia ex-Japan region – the fund also came fourth in the overall standings this month.
Financial Times: Market volatility brings vintage hedge fund strategy back to the fore
One of the hedge fund industry’s oldest — and often least loved — strategies is making a comeback, helped by this year’s market turmoil. It has become this year’s best-performing hedge fund strategy, gaining 6.9 per cent on average to August, according to data group eVestment. This compares with 2.2 per cent across the broader hedge fund sector.
Institutional Money: Activist hedge funds are making their competition look old
In August, activist hedge funds were able to comfortably outperform other hedge fund strategies as managers with a large number of assets under management lagged the market. This is shown by new data from eVestment. The activists are also up year-to-date. Overall, the latest eVestment figures show that most hedge fund strategies are positive year-to-date.
Ignites Asia: Regional institutional investors exit Asia strategies in Q2
Institutional investors in Asia Pacific pulled out of a number of traditional strategies in the second quarter this year, including many Asia-focused strategies, according to new research by eVestment. Japan all-cap value equity strategies saw the most outflows, with nearly US$4 billion in the second quarter. Other Japan-focused strategies also saw net outflows, including core fixed income, all-cap core equity and large-cap growth equity, according to the report by the institutional-focused investment intelligence firm.
Financial Standard: Australia most active region in Q2: Research
New research has revealed that Australians were the most active institutional investment community within the Asia Pacific region in the second quarter of the year, with interest directed to long-only Australian equity strategies. The research, by institutional asset management focused research house eVestment, tracked the product and profile views of investors and consultants across the region.
Georgia Trend: FinTech in Georgia: From Strong to Stronger
If you’re looking for an economic bright spot this somewhat dismal year, cast your eyes toward FinTech, Georgia’s financial technology industry, encompassing anything and everything that allows, enables or secures online or mobile transactions. “It has been a very interesting time to manage a business through,” says eVestment CEO Gene Luciani. “We’ve done remarkably well. Luckily, we were a SaaS-based platform, so all our code is on those servers. Having to close the office didn’t impact our ability to keep our solutions on for our clients. We’ve been able to have the platform up and running, data flowing through very easily just like we were in the office. Our workforces transitioned to remote work very well.”
Institutional Asset Manager: Witan Investment Trust selects eVestment to support its manager selection and monitoring processes
“For Witan, it’s about identifying and selecting the very best managers for our global equity portfolio,” says James Hart, Witan’s Investment Director. “eVestment allows us to research more possibilities and to optimise our due diligence on world class managers for the benefit of our shareholders. Witan, which has employed a multi-manager approach since 2004, continues to evolve and we welcome the addition of eVestment’s innovative data and insights which will complement the range of inputs that go into our investment manager selection and monitoring processes.”
Reuters: Sovereign wealth funds stampede into stocks outside the U.S.
Sovereign wealth funds poured a net $7.1 billion into stocks during the second quarter, the most in several years, with the bulk outside the United States, data showed on Thursday. The funds also pulled a net $5.2 billion out of fixed income during that period, the most since the first quarter of 2019, according to the eVestment data on strategies managed by third-party fund managers.
Ignites Europe: European firms charging lower institutional fees
European asset managers are charging lower fees for managing separate accounts than US and other international competitors, according to new research. The global analysis by eVestment shows Europe-based firms “generally charge less” than their non-European counterparts for managing the same investment strategies. European firms charge 3.5 basis points lower management fees than their competitors among the 11 equity and fixed income strategies that allow for direct comparisons, the data provider finds.
The Asset: Hedge funds see inflows after four months of redemptions
Investors allocated an additional US$9.33 billion to hedge funds around the world in July, ending four consecutive months of redemptions that saw investors pulling some US$72 billion from the industry between March and June, according to a recently published report. With new money coming into the industry in only three of the first seven months of the year, the industry is still in the red for asset flows year to date (YTD) by US$46.42 billion and has assets under management (AUM) of US$3.15 trillion, the report by data provider eVestment points out.
Institutional Asset Manager: US fixed income strategies draw nearly USD100bn from institutional investors in Q2
US fixed income strategies received inflows of USD99.2 billion from institutional investors in the second quarter of 2020, excluding cash management products, according to eVestment’s Q2 2020 Traditional Asset Flows Report. “The net inflows to US fixed income in Q2 2020 almost fully reversed the combined USD104.2 billion in outflows seen during the first quarter of the year,” writes Peter Laurelli, global head of research at eVestment.
Financial Times: Institutions pour money into high-yield active strategies
Institutional investor enthusiasm for high yield has led the category to its best quarter in several years after distress caused by the fallout from the Covid-19 pandemic created opportunities for buyers. US active high-yield fixed income strategies recorded more than $25bn in net institutional flows during the second quarter, bringing institutional assets under management in the strategy tracked by eVestment up to $555bn.
WealthAdviser: St James’s Place selects eVestment in increasing institutionalisation of investment manager selection process
St James’s Place (SJP), the UK’s largest private wealth management firm, has selected eVestment, a specialist in institutional investment data and analytics, to further serve clients with SJP’s distinct approach to investment management. Tom Beal, Chief Investment Officer of SJP, says: “As part of the continual evolution of our Investment process, we have selected eVestment to further enhance our manager selection, monitoring and portfolio construction abilities. We look forward to working with eVestment who will complement the other inputs into our investment process.”
FundFire: Active high yield makes a comeback
Active high-yield fixed income has been a difficult strategy for institutional asset managers to pitch over the last three to four years, but distress caused by the COVID-19 pandemic has led to renewed inflows and an opportunity for existing players. Institutional investor enthusiasm for high yield led the category to its best quarter in several years. U.S. active high-yield fixed income strategies recorded more than $25 billion in net institutional flows during the second quarter, bringing institutional assets under management in the strategy tracked by eVestment up to $555 billion.
FundFire: Asset managers give more ground on fees
Asset managers are offering deeper and more frequent fee discounts to hold on to clients and win new mandates, as the balance of power in negotiations has shifted in favor of asset owners. In some categories of U.S. equity strategies, average active fees can be nearly eightfold higher than passive fees, according to a report on asset management fees eVestment released this month. “Pretty much universally, firm size had an influence on marketed [or stated] fees,” says Peter Laurelli, global head of research at eVestment.
HedgeWeek: Bigger may not necessarily be better: Largest hedge funds still down in 2020, lagging industry average
The ten largest hedge funds reporting to eVestment remain some 4.61 per cent in the red year-to-date, despite posting a 1.31 per cent gain in July. In contrast, hedge funds overall are now flat for the year, at 0.00 per cent, having registered a 3.43 per cent rise last month to successfully claw back losses suffered in H1. “Size appears to be something of a hindrance so far this year,” eVestment said in a note on Thursday.
CityWire: Institutional investors searches: The PMs that caught the eye in July
eVestment, a database used by institutional investors, breaks down the most searched for categories, strategies and managers, both in the US and at a global level.
Private Equity Wire: Why GPs need to move beyond Excel to move their firms forward
Simply put, portfolio performance data is a GP’s most valuable asset. It is their record of achievement, their recipe for future success, and their best fundraising tool, all in one. That is why it is unfathomable that most GPs are still relying solely on spreadsheets, 30+ year-old software, as their primary tool for collecting, managing, and analysing their performance data.
Institutional Investor: Active managers delivered during the market rebound
During a quarter that will make the financial history books, stock pickers earned their keep. Active managers of U.S. equity strategies generated an average gain of more than 23 percent, the largest positive return in 20 years, according to eVestment. As a result, the majority of U.S. institutional strategies outperformed their benchmarks in the second quarter.
The Asset: Hedge funds grapple with negative investor sentiment
Negative investor sentiment continues to weigh on the hedge fund industry, with investors pulling US$16.87 billion from the sector in June, market intelligence provider eVestment said in its latest report. If the trend continues or accelerates, full-year redemptions could surpass the US$102.25 billion that left in 2019.
Institutional Investor: The COVID-19 crisis could launch a wave of new asset managers
The end of the coronavirus pandemic could bring a large number of new asset managers. Data from eVestment show that the number of new firm launches tends to spike following economic crises. According to eVestment’s data, over 300 new asset management firms launched in 2009, just after the financial crisis. This was the highest number of single-year launches recorded since 1954, eVestment said. Most of those launches were in the hedge fund and alternative investment sector.
Opalesque: Hedge fund performance picks in 2Q, with Event Driven-Activist funds dominating
Hedge funds gained an average of +2.07% in June, but year-to-date (YTD) average industry returns are still in the red at -3.37%. The second quarter was stronger for the industry, with 2Q 2020 average returns at +9.91%. Roughly 40% of the industry is producing positive results in 2020, with the average positive gain among that group of +9.12%. The average decline of those funds in the red is -10.85%.
AsianInvestor: Living in interesting times
In today’s difficult environment, it is more important than ever for asset owners to deploying their money effectively – which means holding money managers accountable for their performance. AsianInvestor recently held a webinar in partnership with eVestment, whose analytics experts presented their latest insights based on their datasets. Amid unprecedented times of volatility and uncertainty there is a renewed interest among institutional investors to build their capabilities to better understand how managers are performing – both in terms of benchmarks and when compared with their peers.
FundFire: COVID-19 volatility puts active fixed income to the test
Flows into active fixed income strategies face headwinds as the COVID-19 market shock produces large performance dispersions, and long-term trends like the low-yield environment and a shift to passive continues. Whether in U.S. core fixed income or within all active non-cash U.S. fixed income strategies, the periods of elevated market volatility revealed varying performance differentials between the best and worst performing strategies, says eVestment global head of research Peter Laurelli.
Nasdaq Trade Talks: eVestment makes data available to more asset managers through Instant Insights
eVestment makes data available to more asset managers through recently launched Instant Insights. Senior Vice President Russ Elliott joins Jill Malandrino on Nasdaq #TradeTalks to discuss.
FundFire: Inst’l sales platform Assette integrates eVestment data
Software provider Assette has reached an agreement to incorporate eVestment data into its automated sales and digital communication platform used by asset managers. Clients of both firms will be able to create sales and marketing materials on Assette’s platform incorporating data collected by eVestment. The firm expects the integration will help asset managers’ sales and marketing teams eliminate manual process associated with adding eVestment data to pitchbooks, presentations and other sales and marketing materials.
Institutional Asset Manager: eVestment and Assette partner to provide data integration to asset management firms
eVestment, an institutional investment data and analytics provider, and Assette, a sales and client communication software firm, have teamed up to help asset managers integrate peer performance, key professional, fees and other data seamlessly into client and sales communications. With this new agreement, a pre-built connector pulls eVestment data directly into the Assette platform, allowing asset managers to access quantitative and qualitative data from multiple sources easily.
IPE: Norway’s AFP pension fund taps eVestment
Norwegian private sector pension fund AFP has picked US data firm eVestment to provide services to help it monitor external managers and handle its data collection and review processes more efficiently, according to the US firm. Frode Veiby, senior portfolio manager at the pension fund, said AFP was “very excited” to use the eVestment platform. “Finding and monitoring institutional asset managers locally and around the world is important to our success in serving our pensioners,” he said.
Yahoo Finance: Instant Insights brings eVestment data to more users
eVestment, a global leader in institutional investment data and analytics, has launched Instant Insights for traditional asset managers to surface key data points about their products and business opportunities in the spaces in which they compete. Instant Insights is next-generation competitive intelligence for executives in sales, marketing and consultant relations who want to set product and market priorities with data.
Bloomberg: Hedge funds see inflows in May after months of redemptions
Hedge funds saw net inflows for the first time since February, with the industry bringing in $1.7 billion in May, according to data provider eVestment. Still, redemptions for the year stood at more than $30 billion, the firm said.
Pensions & Investments: Norway’s Fellesordningen chooses eVestment for manager selection, monitoring
Fellesordningen for AFP, Lysaker, Norway, selected eVestment to provide assistance with manager selection and monitoring. The firm will help the supplementary multiemployer plan with manager analysis through use of a database, said Frode Veiby, senior portfolio manager. “We are very excited to utilize the eVestment platform and know that eVestment has the breadth and depth in coverage and proprietary data and tools to make sure that we are able to identify the appropriate strategies for the management of the AFP fund,” he added.
AM Watch: Data provider makes another breakthrough with Nordic pension fund
Norwegian pension fund Fellesordningen for AFP chooses data provider eVestment to help select and monitor asset managers and to more efficiently manage its data collection and processes. AFP is a private sector tariff-based pension scheme in Norway with around EUR 3.7 billion in assets under management. According to eVestment, the data provider sees a trend of Nordic pension funds beginning to look more globally for managers and using tools like eVestment to do so.
Private Funds CFO: Will PE wake up to WFH?
Flexible working was not fashionable in private equity before 2020. Only 7 percent of private markets professionals regularly worked from home, said a survey of 311 of them by eVestment and MJ Hudson. Of those, 80 percent were senior team members. “Working from home is a privilege to be earned, rather than a right, it would seem,” noted the report’s authors.
Financial Standard: Melbourne boutique partners with Swiss bank
Bell Asset Management’s funds have been among top performers in its category. About 90% of its funds under management at September end, when it partnered with Channel for retail and wholesale, was from institutional investors, about 40% of whom were overseas clients that it attracted through eVestment.
IPE: eVestment: Consultants decreased return expectations before virus hit
A recent report published by eVestment shows that on average consultants decreased their return expectations across all high-level asset classes, even before the global health crisis emerged. The report, Capital Market Assumptions Survey 2020, which looks at 2019 and pre-pandemic 2020 capital market assumptions (CMAs), revealed these adjustments come after a year of high returns across many markets in 2019.
Pensions & Investments: Consultants forecast lower returns in 2020 even before COVID-19
Data aggregated by eVestment show that across 12 major asset classes declining return expectations were reported in all but core real estate. Emerging market return expectations had the most significant declines, with equity returns falling 125 basis points and U.S. dollar denominated debt 147 basis points lower.
IPE: AP1 saves resources by adding eVestment to monitoring kit
Swedish state pension buffer fund AP1 has started using data services from US provider eVestment to monitor the performance of its external managers – a move the SEK366bn (€35bn) fund said will help it direct its resources more efficiently. Majdi Chammas, portfolio manager in AP1’s new external partnerships and innovation department, told IPE: “AP1 has decided to add eVestment to the existing toolkit. The eVestment database will help us in the monitoring process of existing and shortlisted managers and allow us to focus our resources.”
FundFire: Pandemic gives rise to new industry conference models
Industry conference organizers are recreating events to adjust to the social norms imposed by the pandemic. New conference formats are opening access to new attendees, generating new data on attendee preferences, and creating new sponsorship opportunities for asset management marketers. Data provider eVestment cancelled its Atlanta annual conference and repurposed the content for free webcasts and podcasts, says marketing operations manager Erica Jack. “We chose not to postpone it later this year… mostly due to uncertainty of how things will play out.”
Ignites Asia: HK hedge fund dangles full loss insurance for 50% performance fee
A Hong Kong-based hedge fund is offering to cover full losses on a new share class to drum up interest in its strategies after the sector was heavily hit by the impact of the coronavirus pandemic. During the first four months of this year, the global hedge fund industry saw outflows of about US$31 billion as investors scrambled for the exit amid the spread of the pandemic. In fact, the resulting sell-off in March occurred during the worst monthly performance for hedge funds since the global financial crisis of 2008, the publication said, citing institutional investment data provider eVestment.
Pensions & Investments: AP1 chooses eVestment technology to monitor managers
AP1, Stockholm, will use technology provided by eVestment to help in its quantitative analysis of money managers, a spokesman said. The 365.8 billion Swedish kronor ($38.6 billion) fund will use the eVestment technology in the monitoring process of new and existing managers as well as managers on the fund’s watchlist.
AM Watch: Investment data provider eVestment reels in AP1 as new customer
Swedish public pension fund AP1 has decided to adopt asset manager monitoring capabilities from eVestment, a global provider of institutional investment data and analytics. AP1 will incorporate eVestment data into its existing process for monitoring its roster of managers and for continual monitoring of managers on their shortlist. The data should give AP1 insights into how those managers are performing if AP1 seeks to rebalance or reallocate in the future.
Institutional Asset Manager: US bond funds bore brunt of Q1 institutional investor outflows, says report
Examining data from USD28.3 trillion in institutional assets under management on eVestment’s platform, the report showed US bond funds suffering outflows of USD162.6 billion, of which USD111.3 billion came from active strategies and USD51.3 billion from passive strategies.
FundFire: Institutional assets gushed out of fixed income strategies in Q1
Global institutional investors pulled out more than $70.68 billion from U.S. long duration fixed income strategies, doubling the strategy’s largest outflow on record, according to an eVestment first quarter report. In the U.S., institutional and retail investors pulled out more than $50 billion from the asset class.
Hedge Nordic: Large macro funds bleed assets
After large losses in March pushed hedge fund industry assets below $3 trillion for the first time since 2014, investors redeemed an estimated $18 billion from hedge funds in April, according to eVestment. Following net redemptions of about $24 billion in March and $18 billion in April, net outflows in the hedge fund industry during the first four months of 2020 reached $31 billion.
LiveWire: Why invest in Australian small caps?
The ability for investment managers to beat their respective benchmark performance in niche markets like Australian small caps has been consistent and has delivered significantly higher alpha as compared to other equity classes over the long-term. Author Phillip Hudak of AMP Capital uses eVestment data as a source for this article.
Reuters: Sovereign wealth funds fly to relative safety of U.S. assets amid pandemic
U.S. equity strategies managed by third-party fund managers sucked in net flows of $5.36 billion from sovereign funds in the first quarter, with the majority headed to passive S&P 500 equity strategies which posted their largest inflows in at least three years, according to data from eVestment.
CityWire Asia: Major hedge funds staged a comeback in April
Hedge funds gained an average of +5.02% in April, but remained largely negative year-to-date at -7.49%, just-released data by eVestment has revealed.
Financial Standard: Hedge funds rally in April, but YTD still bleed red
New data has revealed that hedge funds around the globe staged a recovery in April, with a positive aggregate return of more than 5%. It follows a disappointing March, with almost all the hedge funds tracked by a global database and analytics tool in the red. Despite this promising turn around, eVestment found that the majority of hedge funds were still in the red year to date, reflecting the devastating impact of the coronavirus pandemic on market performance.
AlphaWeek: eVestment’s top hedge funds in April 2020
Our monthly peek into the viewership activity by the institutional investor and advisor subscribers to the platform shows that Graham Capital’s Quant Macro Portfolio was the most viewed hedge fund last month, the first time that it has topped the list and the first time it has appeared in the top three since September 2016.
FundFire: The ESG boom is coming for credit, but managers lag on active engagement
Only one in two eVestment-tracked global institutional dollars allocated to fixed income strategies that consider ESG in some way, shape or form is subject to an active ownership policy, a FundFire analysis of the data provider’s numbers shows.
Axios: U.S. pension funds continue to lurch toward bonds amid coronavirus pandemic
U.S. pension plans already were above their target allocation to fixed income before the coronavirus pandemic, and the outperformance of fixed income during the first quarter has further shifted the tide, a new report from eVestment shows.
FundFire: Did OCIOs earn their keep in 2019? New data sheds light
The first Outsourced CIO (OCIO) performance indices are here, giving institutional investors a new way to gauge how their provider stacks up to peers. Anonymized client data collected from OCIO providers by Nasdaq and search firm Alpha Capital Management shows that, on average, OCIO firms’ discretionary clients saw returns of 4.5% in the fourth quarter and 18% during all of 2019, net of fees. Five-year annualized returns stood at 6.5%.
Bloomberg: Hedge fund assets dip below $3 trillion to least in six years
Global hedge fund assets dropped below $3 trillion for the first time since April 2014, hit by client withdrawals and investment losses amid the March market rout, eVestment data show. Investors pulled $24.1 billion more funds than they deposited last month, according to the data provider.
Financial News London: UK pension investors look to step up private market allocations
UK public plans are set to make “substantial allocations” to private markets in the coming months, according data company eVestment. The shift is a reaction to the reported 20% aggregate decline in their performance in the first quarter this year, which resulted in a £40.7bn loss.
Ignites Asia: eVestment hires business development manager in Sydney
Institutional investment data and analytics solutions provider eVestment has appointed Daman Grewal as Sydney-based business development manager, effective in January. In this newly created role, Grewal focuses on growing the firm’s client base in Australia and New Zealand, including asset managers, investors and investment consultants.
Opalesque: Hedge fund returns varied in March amid elevated volatility, says eVestment
March was a highly volatile and dramatic month, not just for global financial markets and the hedge fund industry, but for humanity. “During the global financial crisis, financial systems were at risk of failing, whereas in March and ongoing, we face larger failures. With the understanding that these are delicate times for all, the following is a look at hedge fund performance amid a global crisis,” said Peter Laurelli, CFA, eVestment Global Head of Research.
AlphaWeek: 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.
FundFire: COVID-19 forces work culture shifts for private equity firms
Before Covid-19, flexible working in private markets was not indulged very often, according to a survey conducted by eVestment Private Markets and MJ Hudson of 311 employees from across the global private markets industry, including GPs, LPs, and outsourced practitioners of core functions.
Axios: Hedge funds outperformed the stock market in March
Hedge funds outperformed the S&P 500 in March and have suffered fewer losses this year, showing their value during crisis periods, data from eVestment shows.
Vanity Fair: Too big to fail, COVID-19 edition: How private equity is winning the Coronavirus crisis
In 2018, according to analytics firm eVestment, pension funds in the U.S. and the U.K. pumped 27% of their fresh allocations of money into private-equity funds, up from 25% the year before.
CityWire: The shops that topped institutional investors’ searches in March
eVestment, a database used by institutional investors, breaks down the most searched for categories, strategies and managers, at a global level and in the US.
FundFire: Share your response to COVID-19, eVestment asks managers
eVestment is collecting business continuity plans and COVID-19-related marketing materials to meet growing demand for this information as the pandemic sheds light on asset managers’ preparedness for unforeseen events. The effort aims to serve as a one-stop shop for investment consultants and asset owners seeking information on how managers are responding to the pandemic.
Reuters: Multi-strategy hedge funds outperformed peers as market plunged
Last year, investors cooled on multi-strategy funds, which oversee $526 billion, and pulled out $18.3 billion, according to data from research firm eVestment. This year is different: investors have added $10.57 billion in the first two months of the year.
FundFire: First mover advantage poses challenges for new product launches
The first investment strategies to market can have an advantage on the competition in gathering assets, an important factor for managers to consider in product development efforts, a new study from eVestment finds.
Opalesque: Investors generous with new money for hedge funds in February. Will that hold up in March?
Investors were bullish on hedge funds in February, allocating another $14.78 billion to funds around the world, according to just-released February 2020 eVestment Hedge Fund Asset Flows data.
Institutional Investor: Managers were getting bad news before markets crashed
Before the worst of the market carnage was unleashed in mid-March, institutional equity managers were already experiencing some of the worst outflows in years. According to eVestment’s first institutional intelligence report, published on Monday, the largest outflows came from active U.S. and global equity strategies, while investors were shifting into cash management and fixed-income funds.
S&P Global Market Intelligence: Hedge funds show their worth in February as they outperform volatile S&P 500
The global hedge funds industry posted aggregate losses of 2.53% in February, according to eVestment, an institutional investment data provider owned by Nasdaq, compared with returns including dividends of -8.23% for the S&P 500, -3.73% for a balanced index of global equities and sovereign bonds (50% MSCI World/50% Citi WGBI).
FundFire: Volatility is back. Will hedge fund flows return?
Following a challenging 2019 when the hedge fund space saw nearly $100 billion in outflows, this year started off with a bang, as investors added an estimated $10.38 billion to hedge funds in January, according to data from eVestment.
FundFire: Nasdaq buys inst’l investor fintech shop Solovis
Nasdaq, Inc. has acquired financial technology company Solovis in a deal it says creates a “global leader of proprietary content, insights and portfolio analytics.” Nasdaq will make Solovis’ offering available through its eVestment group.
Pensions & Investments: Investors pull $59.4 billion from traditional managers in Q4
Institutional investors pulled a net $59.4 billion from traditional long-only asset managers over the course of the fourth quarter, and $210.7 billion during all of 2019, data from eVestment said.
Bloomberg: Asia hedge funds brace for lean times as investors stay away
Asia-based hedge funds lost 5% of their assets to net redemptions last year, compared with 3% on average globally, eVestment data show.
Reuters: Sovereign investors pulled back from equities in fourth quarter -report
Sovereign wealth fund investment in equities via external asset managers fell in the final quarter of last year, data from research firm eVestment showed on Thursday.
AlphaWeek: eVestment’s top hedge funds in January 2020
AQR’s DELTA strategy was the most viewed alternative product on the eVestment platform from its institutional investor and consultant subscriber base last month, taking first place from Renaissance Technologies’ Institutional Diversifed Global Equities and Magnitude Capital’s Magnitude International coming in third.
Bloomberg: Hedge fund outflows neared $100 billion in 2019, most since 2016
Investors pulled more than $16 billion from the industry in December alone, capping a year that saw the longest stretch of monthly client withdrawals since the 2008 financial crisis, according to data compiled by eVestment. The redemptions equal about 3% of industry assets and are almost triple the $37.2 billion in outflows seen in 2018.
Citywire Professional Buyer: The shops that topped institutional investors’ searches in December
eVestment, a database used by institutional investors, breaks down the most searched for categories, strategies and managers, at a global level and in the US.
Markets Media: Hedge funds see $4.45 billion of November inflows
The hedge fund business turned around eight consecutive months of aggregate outflows in November, with investors allocating +$4.45 billion to the industry, according to just-released eVestment hedge fund asset flows data.
Pensions & Investments: European fixed-income investors demanding fee cuts
Institutional AUM for all European fixed-income strategies has declined to $972 billion as of Sept. 30 from more than $1 trillion as of Dec. 31, 2017, according to data provider eVestment LLC.