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Laxman Pai, Opalesque Asia: October saw hedge funds notch worst performance. Investors removed an estimated -$7.13bn from the global hedge fund industry in October, pushing year-to-date (YTD) flows firmly negative at -$10.09bn, says eVestment.
According to the October 2018 eVestment Hedge Fund Asset Flows Report the October outflows follow an uninspiring year in hedge fund performance, culminating in October performance numbers that saw almost all primary hedge fund markets and strategies in the red for the month.
It said that historically, December has been a month where outflows are elevated even in otherwise positive years, so it is highly likely that 2018 will end up as a year of net redemptions from the industry. Overall industry AUM now sits at approximately $3.252tn.
Among hedge funds types, Commodity funds and Equity funds were just barely positive in October with investors adding +$540m and $160m respectively.
And Equity, Fixed Income/Credit and Commodities funds are all positive for asset flows for the year. Multi-Asset funds are where there's some real bleeding, with investors pulling -$6.85bn from these funds in October, bringing YTD flows to -$23.96bn.
Key highlights in the October report:
Among primary strategies, Relative Value Credit and Market Neutral Equity funds were big asset winners in October, at +$2.68bn and +$2.35bn, respectively. The positive flows were not enough to push Relative Value Credit funds into positiv...................... To view our full article Click here
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