Investors poured $70.9 billion into hedge funds in the first seven months of 2014, despite average returns of only 2.82% year to date.
New data from Eurekahedge shows European hedge funds took in $33.4 billion as of July 2014, up from $29.4 billion last year at this time.
North American hedge funds now manage more than $1.4 trillion, having added $62.6 billion as of July 2014.
Long/short equity, fixed-income and multi-strategy funds remained the three most popular strategies in terms of investor allocations, attracting $55.5 billion, $15.6 billion and $10.1 billion, respectively, over the monitored period.
There were 93 fewer CTA/managed futures funds at the end of H1 2014, and the strategy has seen outflows of $11.5 billion as of July.
Asia ex-Japan hedge funds outperformed all other regional mandates—they're up 6.50% YTD—and have seen their AUM grow by $6.5 billion so far this year.
Activist hedge funds remain popular with investors, with AUM growing by over $30 billion since the start of 2013.