Hedge funds took in a net $10 billion in August, reports BarclayHedge and TrimTabs Investment Research citing data from 3,340 funds.
“The hedge fund industry has taken in $45.0 billion this year through August, a big shift from the outflow of $3.6 billion in the same period last year,” said Sol Waksman, president and founder of BarclayHedge. “Industry assets stood at $2.0 trillion in August, just below the five-year high of $2.1 trillion in September 2008.”
Equity long-only hedge funds lost 1.7% in August, reversing part of the 2.9% gain in July but outperforming the Russell 3000’s 2.8% loss. Equity long bias funds lost 0.9% in August, their worst showing since losing 4.8% in May 2012.
Funds of hedge funds shed $4.2 billion (0.9% of assets) in August, adding to an outflow of $4.1 billion in July. Funds-of-funds have posted inflows in just two of the past 24 months.
The monthly TrimTabs/BarclayHedge Survey of Hedge Fund Managers found hedge fund managers notably less bearish on U.S. stocks in September.
Managers were substantially less bearish on U.S. Treasuries, but a majority was neutral on the U.S. dollar.