Hedge fund assets fell under $1 trillion in January as investors headed for the exits, according to a new report.
Investors withdrew $74 billion from hedge funds last month, according to TrimTabs Investment Research, leaving total industry assets at $964 billion. The outflow is the second-highest on record, after $117 billion in withdrawals in December.
Hedge fund assets have fallen by more than half since May, when they totaled $1.9 trillion. The industry has lost $315.6 billion to redemptions since September alone.
Just one category of hedge funds tracked by TrimTabs added money in January, with equity funds bringing in $2 billion.