eVestment: HF Flows Positive In Q1

Apr 23 2013 | 9:49am ET

Hedge fund investors redeemed $12.4 billion in March, but net flows for Q1 2013 remained positive, at $7.6 billion, reports eVestment.

Performance added another $56.1 billion to bring total hedge fund industry assets under management to $2.664 trillion in the first quarter, a 2.5% quarter on quarter increase.

Early indications show funds of funds flows were highly negative again in Q1.

March saw investors crowding into credit strategies, which attracted about $4.6 billion during the month bringing their first quarter total inflows to $23.0 billion.

Macro funds saw redemptions worth an estimated $2.3 billion in March; nevertheless, Q1 flows remained positive, thanks mainly to continued allocations to a few large funds.

Q1 redemptions from managed futures funds were the largest since Q1 2009 while March redemptions from directional equity hedge funds reached $6.1 billion, bringing Q1 outflows to $9.2 billion. Investor flows have been negative for equity strategies for the last seven quarters, notes eVestment, matching the duration of outflows from equities during the financial crisis.

Outflows from emerging market funds have been declining for the past four months, turning positive in March while commodity fund flows brought that group into negative territory for Q1.


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