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Laxman Pai, Opalesque Asia:

Investors removed an estimated net of $5.6 billion from hedge funds in July. Performance accounted for an increase in assets. The result of both factors was a $26.3 billion increase in assets to an estimated $3.463 trillion, said a report by eVestment.

"The most notable themes during the month, beyond the fact worth reiterating that it was a light month of investor activity, were that managed futures funds regained some capital raising steam, investor interest in continuing to allocate heavily to multi-strategy managers has abated, and there has been some signs of light in the hedge fund credit/fixed income space," said Peter Laurelli, CFA, eVestment Global Head of Research.

"Other flow themes continued during the month, redemptions outpacing new allocations to long/short equity and event-driven products, and somewhat light net outflows from macro funds," he added.

According to the report, The volume of asset movement (the absolute value of fund-level net in/outflows vs. prior period assets) in July 2023, was the lowest monthly level we've seen in the last five years.

July's data tends to show light flow, as does August's, and so this month's data is not surprising. What net inflows there were appeared to be relatively broadly dispersed as were net outflows. From a high level, July 2023 appeared to be a mundane month for asset movement in the industry.

Meanwhile, first and foremost, managed futures strategies are having another (......................

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