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Multi-Asset funds were the big asset winners in July among the fund types and strategies eVestment tracks, pulling in +$2.12 billion in new money. These funds are also asset flow AUM winners YTD, pulling in some +$34.35 billion in 2021.

The story is much different among Fixed Income/Credit hedge funds, which saw investors pull -$1.72 billion in July, bringing YTD redemptions to -$18.83 billion. About 60% of hedge funds focusing on Fixed Income/Credit have seen net outflows this year.

Among the primary strategies eVestment tracks, Managed Futures were big asset winners in July, pulling in +$1.67 billion in new money from investors. This brings Managed Futures YTD inflows to +$9.25 billion.

Relative Value Credit and Multi-Strategy funds were also among the big asset winners in July, pulling in +$1.55 billion and +$1.45 billion respectively. Relative Value Credit funds are still in the red YTD with net flows at -$1.12 billion, while Multi Strategy funds are among the big asset winners YTD, with investors giving these funds +$20.07 billion in new money so far this year.

Macro funds were the big asset loser among primary strategies eVestment tracks, with investors pulling -$1.52 billion from these funds. YTD these funds are still in the green for asset flows, but just barely at +$690 million.

"This year continue to feel like a decent one for the industry, but it's absolutely not being felt by all, or even by the majority for that matter," said eVestment Global Head of Research and report author Peter Laurelli. "Wide-felt success hasn't defined the hedge fund industry for a long time, but this year has shown some improvements in the breadth of success metrics. With a global landscape that has continued to highlight uncertainty, it would be surprising to see interest in the industry shift meaningfully in the second half of 2021."