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Alternative Market Briefing

Hedge Fund Industry's AUM is $3.133tn in July - eVestment

Monday, August 24, 2015

Bailey McCann, Opalesque New York:

eVestment has released its July 2015 Hedge Fund Asset Flows Report, which shows that total hedge fund assets increased 0.35% in July 2015, bringing the industry’s total assets under management to $3.133 trillion.

Investors added $64.3 billion into hedge funds in 2015 through July.

The hedge fund industry saw total outflows in July of $5 billion.

Redemptions came from event driven strategies which have had a rough time with performance in recent months. The biggest redemptions in July have come from funds that began the year with large losses. The average decline in January from funds with the biggest redemptions in July was over -4.2%.

Investors are also redeeming from credit funds. "It is likely current redemptions from credit hedge funds, $4.8 billion redeemed in July, are a result of the six-month span of performance losses from August 2014 to January 2015. In the months immediately after that period, it was surprising to see flows remained positive, however the redemption cycle for credit strategies is typically longer than for more liquid, or perhaps less levered strategies," writes Peter Laurelli, VP and Head of Research at eVestment.

Elsewhere, investors renewed their interest in macro funds which saw the highest rate of inflows since January 2010. Macro funds returned on average 5.5% in the first half of the year, and investors appear to be rewarding that strong performance.

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