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Hedge funds investing in the financials sector have performed well relative to sector benchmarks with aggregate returns posting -3.99% year-to-date (YTD) and -0.40% in the last 12 months (LTM). This compares to the NYSE Financials Index with returns of -13.94% YTD and -10.03% LTM.
Investor interest in financials sector strategies has been below the hedge fund industry average for 2011. Funds have had an estimated net outflow of $610 million in 2011, or 3.59% of total AUM vs. 2.21% growth for the hedge fund industry. Performance accounted for an additional $440 million decline in assets for the year.
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