NEW YORK (Reuters) -The global hedge fund industry ended the first quarter with a record $4.3 trillion in assets, data provider HFR said on Monday.
The industry added $190 billion in assets in the first quarter, the sixth consecutive quarter of growth, it said.
Hedge funds’ performance was the main driver of asset growth, as funds went up 4.52% in the first quarter, according to the HFRI Fund Weighted Composite index.
The industry also added $16.6 billion in net new money in the quarter, especially to equity and event-driven hedge fund strategies.
HFR said in a statement that portfolio managers took advantage of an environment involving unprecedented geopolitical risks and macroeconomic uncertainties in the first quarter.
(Reporting by Carolina Mandl in New York; Editing by Michael Erman)