The global hedge fund industry ended the first quarter with a record $4.3 trillion in assets.

The industry added $190 billion in assets in the first quarter, the sixth consecutive quarter of growth.

Hedge funds’ performance was the main driver of asset growth, as funds went up 4.52% in the first quarter.

The industry also added $16.6 billion in net new money in the quarter, especially to equity and event-driven hedge fund strategies.

The portfolio managers took advantage of an environment involving unprecedented geopolitical risks and macroeconomic uncertainties in the first quarter.