Ep 36 - Q1 trends with Declan Quilligan, Citco's Head of Hedge Fund Services

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This week on the AFI podcast, Will is joined by Declan Quilligan, Head of Hedge Fund Services at Citco, to discuss industry trends in Q1 based on the firm's latest quarterly research.

The first quarter was anything but quiet, comprising the start of the Trump presidency in the US, the emergence of the Deep-Seek AI model, an unprecedented German fiscal package and growing speculation over US trade policy ahead of the early April announcement on tariffs.

On the agenda: key insights on hedge fund strategy performance, flows, treasury payments and trade volumes. Find topics by time-stamp and listen links below. Find the full Citco report here and AFI's coverage here.

1:36 - Introduction to interview and Q1 overview.

2:11 - DQ gives key headlines on hedge fund performance in Q1; Tenth successive quarter of gains for sector.

4:45 - Zeroing in on multi-strategy - further strength in Q1, continuing recent trends.

7:30 - Exploration of scale.

8:21 - $7.1bn of net inflows in Q1, about half of which in multi-strategy.

10:55 - Ability of hedge funds to protect capital in volatile times.

12:08 - High levels of Treasury Payments in Q1, big y/o/y growth.

14:25 - Also very high trading volumes, volatile Q1 sees two of busiest months on record.

16:34 - Importance of hedge fund return profile in market turbulence.

Episode recorded on 6 May 2025.

*Not investment advice. Past performance is no guarantee of future returns*

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