Eurekahedge: Hedge Fund AUM Fall $6B In August

Sep 17 2013 | 8:49am ET

Hedge fund assets under management fell by $6.3 billion in August, according to the latest data from Eurekahedge, bringing the size of the industry to $1.90 trillion.

The decline in AUM was mostly due to poor performance, as managers lost $4.7 billion over the course of the month, although the industry also saw net negative asset flow of $1.62 billion.

Long/short equity funds were a bright spot, asset-wise, as their AUM exceeded $600 billion for the first time since 2008.

Overall, hedge funds were down 0.23% in August. Distressed debt remains the best-performing strategy in 2013, up 9.77% as of end-August. CTA/managed futures, on the other hand, witnessed a fourth consecutive month of negative returns, shedding 0.43%.

In terms of regions, Latin and North America hedge funds delivered the strongest returns in August, the former gaining 0.36% and the latter outperforming the S&P 500, which shed 3.13%. Asian hedge funds outperformed underlying markets once again—Asia ex-Japan funds were up 0.10% and Japan-focused hedge funds were down 0.10% while the Nikkei 225 was down 2.04% and the Tokyo Topix was down 2.27% during the month. Japan-focused funds are up 18.82% YTD.

Hedge fund launches have picked up in 2013—over 500 funds have started operations year to date.


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