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Hedge fund inflows in May were no match for April's poor performance as industry drops $5bn

Tuesday, June 21, 2011
Opalesque Industry Update – Hedge funds, which enjoyed a ten month winning streak through April, finally capitulated to the volatile markets, losing -1.24% in May according to the Eurekahedge Hedge Fund Index.

While hedge fund performance has wavered, investor allocations are still outpacing redemptions, by $8bn in May marking the sixth month of positive inflows, according to a report released by Eurekahedge. The inflows made the first five months of 2011 the strongest first five months on record for asset growth. Many of these inflows have benefited global macro hedge funds, which remain high in investor favor as they reached a historical high of $122bn in assets, and hedge funds in North America have passed $1.2tln in assets.

However, even these inflows could not overtake the perfomance losses of April. Overall, Eurekahedge estimates that just under $5bn left the hedge fund industry during May.

Regional hedge funds also saw negative returns, although Latin America was a bright spot with gains of +0.42%.

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