Report: Hedge Fund Investors Pull $8.6 Billion in June

Aug 7 2013 | 10:58am ET

Hedge fund asset flows were negative for the first time this year in June, according to figures released today by BarclayHedge and TrimTabs Investment Research.

Hedge fund investors redeemed a net $8.6 billion (0.4% of assets) in June, the largest outflow since October 2012 ($10.3 billion outflow) and a sharp turnaround from an $18.8 billion inflow in May. 

“Despite the June setback, year-to-date flows to the hedge fund industry stayed positive at $27.1 billion,” said Sol Waksman, president and founder of BarclayHedge.  “In the first five months of this year, the industry took in $35.7 billion, compared with just $484 million in the same period last year.”

The TrimTabs/BarclayHedge Hedge Fund Flow Report—which is based on data from 3,369 funds—noted that equity long only funds lost 1.4% in June, slightly underperforming the 1.3% loss in the Russell 3000 Index. 

“Equity long bias funds lost 0.9% in June, reversing a 2.6% gain in May and marking the first negative month since losing 0.4% in October 2012,”  Waksman said.

Funds of hedge funds shed $1.5 billion (0.3% of assets) in June, reversing a $428 million inflow in May. Funds-of-funds have attracted net inflows in just three of the past 24 months.

The TrimTabs/BarclayHedge Survey of Hedge Fund Managers found that managers grew less bearish on the S&P 500 in July, but opinions were pretty evenly split between bullish or neutral on the market’s prospects for August.

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