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Alternative Market Briefing Weekly

Opalesque Roundup: Hedge fund AUM declines as investors pull out $11bn in June: hedge fund news, week 30

Saturday, July 31, 2021

In the week ending July 30th 2021, eVestment said that investors removed an estimated net $10.99 billion from hedge funds in June, reducing 2021 net inflow to $28.69 billion. Asset-weighted returns were near flat resulting in overall industry AUM declining slightly to $3.55 trillion. Net outflows returned to the hedge fund industry for only the second month in 2021 (March/June), but the data does not paint a negative portrait overall.

According to Eurekahedge, hedge fund managers ended the month of June up 0.25% on an equal-weighted basis, and down 0.90% on an asset-weighted basis. The progressive relaxation of Covid-related mobility restrictions in most developed markets provided support to the reopening of their economies, benefitting the global equity market as represented by the MSCI ACWI (Local) which gained 1.93% in June.

Meanwhile, L/S equity hedge funds lost momentum in June as performance gains decelerated and flows took a dramatic swing into negative territory. HFM's L/SEquity Composite returned 0.8% last month, above the 0.4% June gain for HFM's Global Composite Index, but below each of the L/S equity index's five monthly returns in 2021.

In new launches, hedge fund veteran Anne Dias is planning to manage outside money again. Dias, 50, began fundraising last month for a long-short strategy to be managed by her Aragon Global Management; Chicago-based Pritzker Private Capital has closed its latest investment vehicle PPC......................

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