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Laxman Pai, Opalesque Asia: Investors removed an estimated net of $19.15 billion from hedge funds in September, according to a study. Performance accounted for a slight increase in assets. The result of both factors was an $11.0 billion decrease in assets under management to an estimated $3.455 trillion, said a report by eVestment.
"With the summer flow doldrums unfortunately in the rearview mirror, elevated net outflows returned to the industry in a widespread flurry in September," said the Hedge Fund Industry Asset Flow Report: September 2023.
The breadth of funds experiencing redemptions was very broad during the month, but the amounts removed at the fund level across the landscape were not exceptionally high. Aggregate net outflow wasn't from pockets of large redemptions, but rather the result of nearly 70% of reported funds' data indicating redemptions, the widest level of product-level net outflows since at least 2016.
The report stated that redemptions for the year are now assured across the industry, though it is unlikely they will reach the level of 2022. Based on historical Q4 data, however, it is not impossible.
Quarter-end data tends to show the largest asset movements. In recent years, the largest redemptions have appeared in June and December's data, but this year September's data is indicating it is the largest redemption month of 2023, so far.
"Redemptions were very widespread, but not exceptionally large. The level of net outflow being this...................... To view our full article Click here
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