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Alternative Market Briefing

As of July, investors redeemed 5.3% of hedge fund assets in the past 12 months

Thursday, September 19, 2019

Laxman Pai, Opalesque Asia:

In July, hedge funds experienced a total of $8.1 billion in net redemptions - the second straight months of outflows on account of no-deal Brexit and Eurozone contraction, despite U.S. fund gains from June's equity markets rally.

However, the hedge fund redemptions slowed from the prior month's pace. July's redemptions, which represented 0.3% of industry assets, were an improvement on June's $12.2 billion in outflows, pointed out Barclay Fund Flow Indicator, tracking inflows/outflows for more than 6,000 funds.

Monthly trading gains of $17.5 billion brought total hedge fund industry assets to more than $3.12 trillion as July ended, down from $3.15 trillion in June.

While U.S. hedge funds rode June's equity market rally to net inflows in July, investors' ongoing concerns over the potential for a messy break between the U.K. and the European Union dragged funds in the U.K. and Europe heavily into net redemption territory for the month.

July saw hedge funds in the U.K. and its offshore islands experiencing nearly $8.4 billion in redemptions, 1.4% of assets, while those in Continental Europe shed nearly $3.0 billion, 0.4% of assets.

"With each month that goes by without a Brexit deal, investors grow increasingly skittish," said Sol Waksman, president of BarclayHedge.

"Those investor jitters were on full display in July's U.K. and Europe redemptions. Manufacturing contraction in the Eurozone didn't help and together......................

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