The curated database of hedge funds that publish investor letters. Research by geography, strategy, and schools of thought.
| # | Fund | Strategy | Style | Geography | AUM | Latest Letter |
|---|---|---|---|---|---|---|
As of Oct 22, 2026
Hedge funds administered by Citco recorded a weighted average net return of -0.7% in the third quarter of 2026, moderating after a standout second quarter return of 12.3% net of fees, which brought year-to-date performance to 10.5% net of fees. Event driven strategies faced the sharpest drawdown with a -3.8% return, followed by multi-strategy at -1.4%, fixed income arbitrage at -1.1%, and equities at -1.0%. Conversely, commodities funds served as the primary performance outlier, posting an 11.9% return for the quarter, while global macro gained 3.1%. Across asset size tiers, funds with over $3bn in assets under administration dipped -0.6% while the $1bn to $3bn cohort dropped -2.1%. Broad financial markets contended with cross-asset headwinds amid subdued volatility, with the VIX dropping two points during the summer months. Trading activity experienced typical seasonal moderation before rebounding in September, driven by double-digit volume growth in interest rate futures and index futures. Concurrently, index option trading normalized sharply to roughly 1% of peak levels seen earlier in the year, while currency, government bond, and credit default swap activity maintained resilient participation across middle-office platforms. Institutional allocator demand proved resilient as quarterly net subscriptions totaled $36.0bn, bringing total year-to-date inflows well beyond $100bn. Multi-strategy and hybrid funds dominated capital allocations, securing $15.4bn and $12.3bn in net flows respectively. Regionally, the Americas attracted the largest share of capital at $20.8bn, outstripping Europe's $13.8bn and Asia's $1.4bn, as active treasury processing volumes hit record highs exceeding 208,000 transactions.
Institutional capital continues to favor multi-strategy and hybrid hedge fund structures to secure portfolio diversification benefits across volatile cross-asset environments.
Hedge funds remain on track for a bumper year in terms of net institutional inflows with continued demand heading into the final quarter.
Neutral / Balanced
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