Hedge funds actually generate more alpha when the White House is occupied by a Democrat president than a Republican one, according to HFR.
By Leslie Picker,CNBCThere's been a rush of enthusiasm on Wall Street regarding Donald Trump's election win, but hedge funds actually generate more alpha when the White House is occupied by a Democrat president than a Republican one, according to HFR, collating data going back to 1991.
When compared with the S&P 500, the industry underperformed regardless of who was president. But during Democratic administrations, the gap was about 183 basis points, with hedge funds delivering average, annualized returns of 10.16%, compared to 11.99% from the S&P 500. The underperformance gap during Republican administrations was 331 basis points.
The total net asset flows were higher under Republican administrations than Democratic ones , even though since 1991, Democrats served six more years in the highest office than Republicans.Surprisingly, the way that hedge fund participants donate in elections was a bit more tilted toward one party.
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