eVestment: Investors Pull $10B From HFs In June

Jul 19 2013 | 8:45am ET

Investors pulled $10.1 billion from hedge funds in June, as outflows and performance reduced overall industry assets under management by 2.5% to $2.66 trillion, reports eVestment.

The high June withdrawals resulted in negative flows for the second quarter, during which investors withdrew $4.3 billion. Year-to-date, hedge funds have seen inflows of $1.7 billion, the second-slowest H1 growth in the last 10 years.

Macro strategies, which lost $8.87 billion in June, were the primary cause of the high June outflows. Long/short equity funds saw the next-highest redemptions, at $4.79 billion.

Managed futures funds lost another $1.46 billion in June. They have seen the biggest outflows year to date, at $20.10 billion, followed by macro strategies, which have lost $14.14 billion.

Credit strategies remain the preferred investment in the hedge fund space, said eVestment, pulling in $9.2 billion in June, $22.4 billion in Q2 and $48.2 billion YTD. But while smiling on credit strategies generally in June, investors pulled $2.24 billion from mortgage-backed securities strategies.

Equities strategies lost $6.3 billion in June, bringing their YTD outflows to $13.3 billion.

Commodities strategies gained $29 million in June, which is low, but still better than the previous four quarters which saw $4.0 billion flow out of these funds.


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