EU funds levered up over 2019

Gross hedge fund leverage came to 6,450% of NAV

Funds in the European Union became more leveraged in 2019 than the year before, data from the European Securities and Markets Authority (Esma) shows.

Of the 32,585 alternative investment funds (AIFs) surveyed by the regulator, 15.7% were leveraged as of 2019, compared with 15% in 2018. Gross leverage, as a percentage of net asset values (NAV) amounted to 517%, up from 442% in 2018 and 357% in 2017. Adjusted gross leverage, a measure that excludes interest rate derivatives, came to 182% in 2019

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