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Year-to-date (YTD) investor redemptions sit at $55.44 billion. If this trend continues or accelerates, full year 2020 redemptions could surpass the $102.25 billion investors pulled from the industry in 2019.

"The last time the industry had aggregate inflows in a quarter was Q1 2018," said eVestment Global Head of Research Peter Laurelli. "That is nine quarters without new money coming in outpacing money leaving."

Total hedge fund industry assets at the end of June sat at $3.05 trillion.

Some key findings from the new report include:

Among hedge fund types, Multi-Asset hedge funds were the largest asset losers in June, with investors pulling $7.26 billion from these funds. YTD investors have pulled $41.57 billion from Multi-Asset funds.

Among primary strategies eVestment tracks, Long/Short Equity funds saw the biggest investor redemptions, with investors pulling $4.65 billion from these funds, bringing YTD investor redemptions to $11.05 billion.

Market Neutral Equity funds were among the few bright spots for hedge fund asset flows among primary strategies eVestment tracks, with investors adding $1.26 billion to these funds in June. Market Neutral Equity funds are still negative for flows YTD, with investors pulling $1.52 billion from these funds so far this year.

The only other primary strategies to see inflows in June were Managed Futures funds, with $450 million in new money, and Convertible Arbitrage funds, with $140 million in new money.

There continue to be individual funds of all types that are seeing positive asset flows, but as the aggregate data shows, funds gaining assets are generally dwarfed by those losing assets. This highlights for investors interested in hedge funds the importance of due diligence in selecting funds and monitoring once funds have been selected.

For fund managers, the June results highlight investors' impatience with under performance. As Laurelli notes to fund managers in the report: "Do well and you are likely to be rewarded, do not as well as expected and there will be consequences. Investors do not appear to have much middle ground with regards to their hedge fund allocations."