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In November investors pulled -$3.84 billion from the hedge fund business, according to the new report, but strong inflows throughout the year leave the business deep in positive asset flows territory. November's industry-wide negative return of -2.05% further dragged on overall hedge fund industry AUM, which stood at $3.57 trillion at the end of the month.

eVestment Global Head of Research Peter Laurelli notes that December is typically a month for net outflows in the hedge fund industry, but those December redemptions over the past four years have averaged around -$15 billion. "The bottom line is it would be extraordinary for this year to end in such a way as to alter the theme that net flow for hedge funds in 2021 are positive."

Among primary hedge fund strategies eVestment tracks, Multi-Strategy funds were the big asset winners in November and YTD, pulling in +$2.73 billion last month and +$28.18 billion YTD.

Managed Futures funds were another big asset winner in November, with investors plowing another +$2.02 billion into these funds, bringing their YTD inflows to +$14.95 billion.

Event Driven funds were just barely positive for flows in November, with investors adding +$350 million, bringing YTD inflows to a healthy +$5.80 billion.

Macro hedge funds were the big asset losers among primary strategies eVestment tracks, with investors pulling -$5.09 billion in November, bringing YTD redemptions to -$6.73 billion.

Long/Short Equity funds' November outflows were only -$1.54 billion, but the outflow trend for Long/Shorty Equity funds has been ongoing, bringing YTD outflows to -$13.47 billion. This is the largest outflows so far this year among the primary strategies eVestment tracks.