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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