BNP Paribas has published its latest hedge fund outlook, based on a survey of large global investors who together oversee more than US$1 trillion in hedge fund assets.

The 2026 Hedge Fund Outlook is based on a survey of 246 allocators and was carried out in December 2025 and January 2026. These investors either manage or advise on average US$1.1 trillion in hedge fund assets, which BNP Paribas said represents more than one-fifth of the industry. Hedge funds delivered an average return of 10.53% last year The data showed hedge funds continued to outperform cash in 2025. As per BNP Paribas, hedge funds delivered an average return of 10.53% last year, which w