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Matthias Knab, Opalesque:

The hedge fund business turned around eight consecutive months of aggregate outflows in November, with investors allocating +$4.45 billion to the industry, according to the just-released November 2019 eVestment Hedge Fund Asset Flows Report. November's asset inflows and performance gains brought overall hedge fund industry AUM to $3.285 trillion, according to the new report.

November's inflows will ease industry fears that hedge fund outflows would match or surpass the $112 billion that was pulled from the industry in 2016, but the November 2019 year to date (YTD) outflows of $81.53 billion are not inconsequential.

Among primary hedge fund strategies, Directional Credit funds were the top asset winners in November, pulling in an additional +$2.59 billion. These funds have been on an asset losing trend however, with YTD asset flows of -$6.99 billion, which is unlikely to be turned around by whatever December brings.

Other interesting points from the new report include:

• Event Driven hedge funds are shaping up to be the big asset winners of 2019 among the primary strategies eVestment tracks, pulling in +$15 billion YTD. These funds pulled in +$1.63 billion in November alone.
• MBS Strategies also had a healthy November, pulling in $2.28 billion, bringing YTD inflows to $9.72 billion and, barring a major shift in December, should close out 2019 with big numbers.
• With November numbers in, Long/Short Equity funds look to be th......................

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