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Alternative Market Briefing

Investors redeem $8.1 billion from hedge funds in September - eVestment

Tuesday, October 27, 2015

Bailey McCann, Opalesque New York:

Investors removed some $8.1 billion from hedge funds in September, according to the latest hedge fund asset flow data from eVestment. Combined with performance decreases of $10.1 billion in the month, the hedge fund industry stood at $3.045 trillion total AUM in September, down from August’s total of $3.053 trillion, according to the report.

Overall inflows for hedge funds amounted to $2.8 billion in September - the lowest of the year.

Asset flows for the year sit at $72.1 billion compared to $106.6 billion through Q3 in 2014. "Given recent losses and the 4-year trend of investor redemptions in the final month of the year, it is likely hedge fund flows will not surpass 2014 inflows of $88.3 billion, and may fall below 2013 inflows of $61.7 billion," writes Peter Laurelli, VP and Head of Research at eVestment in the report.

On a strategy basis, macro funds had the most redemptions of any strategy in the industry. Redemptions of $4.0 billion were in-line with their last monthly redemption in January 2015.

Notably, managed futures funds saw net inflows of $1 billion - one of the bright spots for the month. "It will, however, be surprising if flows do not turn negative at some point in Q4 given the magnitude of recent losses," Laurelli adds.

Multi-strategy funds,experienced their lightest inflow since seasonal redemption pressures in December 2014. The group still received $10.5 billion in new assets during Q3 and......................

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