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Alternative Market Briefing

Redemption pressures on hedge funds abated in August

Thursday, September 22, 2016

Komfie Manalo, Opalesque Asia:

The redemption pressures weighing heavily on the hedge fund industry mostly abated in August, data provider eVestment said in its latest Hedge Fund Industry Asset Flow Report. After outflows in June and July nearly reminiscent of the tail-end of the global financial crisis, investors’ dissatisfaction with 2015 performance may be exhausted.

The report said that investors allocated an estimated net $6.3bn into hedge funds in August, following $60.8bn in redemptions recorded in June and July, the industry’s largest two-month span of outflows since April 2009. August inflows brought YTD flows to negative $51.8bn, but eVestment said that performance was also accretive to total industry AUM in August, which now stands at $3.021tln.

The report said, "While this is positive for sectors able to perform well this year, including event driven and certain credit strategies, the picture is not universally bright. Commodity strategies have seen performance dips in recent months, and there is evidence of dissatisfaction with near-term performance from investors in both macro and managed futures universes."

Despite these pockets of negativity, the appearance of large multi-strategy fund returns among industry leaders may be another signal the allocation preferences seen in 2014 and 2015 could see a repeat, it added.

August was lightest month of investor activity

According to the ......................

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