Market confidence rebounds in Q2 as manager performance remains mixed
The report emphasised the importance of ‘new manager search data’ or the number, volume and type of mandates being launched by institutional investor clients, in assessing investor sentiment.
In its quarterly ‘Manager Intelligence and Market Trends' report, the firm revealed emerging market managers performed particularly well throughout the quarter, along with growth strategies and macro hedge funds.
In contrast, low volatility, income and value-oriented equity managers struggled, as did the high yield bond contingent, it said.
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The report emphasised the importance of ‘new manager search data', or the number, volume and type of mandates being launched by institutional investor clients, in assessing investor sentiment.
This data found that the popularity of fixed income managers increased throughout Q2, with the category making up 18% of new searches, up from 11%.
Private market strategies continued their period of strong approval, making up over half of new manager searches at 53%, down from 58% in Q1 but up from 49% in 2021.
Within private markets, private debt led the pack, with 39% of new manager searches, with infrastructure rising considerably from 11% last year to 31%. In contrast, real estate suffered a decline.
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«Industry-wide fundraising data, meanwhile, showed private market capital raising at its lowest level since the quarter that immediately followed the outbreak of the Covid-19 pandemic,» the report noted.
Examining risk using the bfinance Risk Aversion index, the report found risk appetite has slowly ticked up, rising almost to 0.6, ahead of the
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