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Alternative Market Briefing Weekly

Opalesque Roundup: 57% of managers report outflows in June, marking 5th consecutive quarter of redemptions for hedge funds: hedge fund news, week 28

Sunday, July 28, 2019

In the week ending July 26th 2019, Investors pulled $16.43bn from the hedge fund industry in June, bringing year-to-date (YTD) outflows to -$44.61bn, said eVestment. According to the June 2019 eVestment Hedge Fund Asset Flows report, overall industry AUM stood at $3.273tn in June.

57% of reporting managers had net redemptions, and the month capped off the fifth consecutive quarter of industry redemptions in June, said the report.

However, June has been the strongest month for Asia and emerging market (EM)-focused hedge funds. After recording outflows and negative manager performance in May, funds exposed to Asia and EM were asset winners last month, pulling in +$480 million and +$730 million, respectively.

Meanwhile, Global Macro hedge funds are up +5.3% year-to-date but returns show elevated dispersion, Lyxor said in its Weekly Brief. Further in performance news, legendary investor Bill Miller is bringing his winning touch to the hedge fund business as the fund that he launched three years ago has gained 46% in the first half of this year, while the $150bn hedge fund group founded by Ray Dalio saw its Pure Alpha fund, which tries to surf macro-economic trends, lost 4.9 per cent in the six months to June as global equity and bond markets bounced on hopes of looser monetary policy.

In new launches, Citadel alum Greg Blotnick is launching a new fund Brattle Street Capital; American venture capital firm based Sierra Ventures announced that it raised $215 million for a twelfth fun......................

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