Redemptions continue from global hedge fund industry

Redemptions from the global hedge fund business continued throughout August but were less widespread across fund types than in July.

Macro hedge funds and long/short equity funds took the bulk of the outflows. Overall redemptions, however, were nearly double compared to the previous month.

Investors pulled out around $6.51 billion (€5.9 billion) from the sector throughout August, compared to $3.78 billion in July

Year-to-date flows now stand at a negative $63.61 billion, according to the latest data from eVestment.

Macro hedge funds saw outflows of over $6 billion, whilst long/short equity funds saw outflows of $5.3 billion.

Event driven funds saw the lion’s share of inflows, pulling in $2.6 billion of investor cash, followed by managed future funds which saw inflows of $1.5 billion.

In terms of assets year-to-date, long/short equity funds are the biggest losers amongst the primary strategies tracked by eVestment with outflows of $31.14 billion so far this year.

The firm also reported a continuation of emerging markets hedge fund outflows, with investors pulling out over $1.5 billion.

A separate report by Chicago-based Hedge Fund Research recently found that emerging markets hedge funds posted industry-leading mid-year results this year.

Total emerging market hedge fund capital reached $239.3 billion by the end of the second quarter, according to the study.

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