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Opalesque Industry Update - Investor capital flowed out of the hedge fund industry in February, reversing the positive movement in January. Redemptions outweighed allocations by $3bn last month, but year-to-date flows remain positive to the tune of about $8bn after high January inflows, said HFM hedge fund flows report. Hedge funds navigated another turbulent month for the global economy and markets, which culminated in Russia's invasion of Ukraine. The average fund lost 0.3%, leaving it down 1.6% year-to-date. Multi-strategy was most popular, attracting net inflows of more than $3bn, while long/short equity suffered steep outflows of more than $8bn. Long/short equity funds suffered net outflows (-$8.4bn) for a fourth consecutive month as investors target diversification away from stock-based strategies. The turn away from equities is underlined by event-driven seeing outflows for a sixth straight month. Net inflows worth $8bn across multistrategy, fixed income/credit and macro could not turn February flows positive. All three strategy groupings have been in favor in recent months. The industry has attracted over $8bn in net inflows year-to-date, but more than half of hedge funds have had net outflows. Despite high net outflows from long/short equity, continuing the recent trend, about half of funds in the strategy have had inflows this year. Event-driven funds (68%) were most likely to have had outflows year-todate, indicating dissatisfaction is more widespread. RV/arbitrage fared best on inflows, at 60%.
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Industry Updates
Hedge funds navigated another turbulent month for the global economy and markets with the average fund losing 0.3% - down 1.6% YTD
Wednesday, March 23, 2022
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