Overall hedge fund flows for June were slightly negative at -$6.97 billion for June of this year, according to the just-released June 2017 eVestment Hedge Fund Asset Flows Report. Europe was a big winner in the hedge fund industry in June. Funds domiciled in Europe saw +$7.26 billion in inflows in June and funds with investments focused on Europe saw inflows of +$2.98 billion during the month.
For the second quarter, overall industry flows remained positive at +$7.54 billion and overall hedge fund industry AUM stood at $3.119 trillion as of June.
More than 50% of hedge funds saw positive flows during the month and redemptions were noticeably more concentrated than allocations, which indicates June’s redemptions were a result of elevated outflows from a limited number of products.
Some interesting points from the new report include:
- Equity funds were big winners in June, with +$4.03 billion in inflows, while multi-asset funds saw big outflows of -$10.61 billion in June.
- Among primary strategies, Long/Short Equity funds were leaders in inflows, with +$1.64 billion in new money. Directional Credit Funds, at +$1.35 billion and Market Neutral Equity Funds, at +$1.03 billion were also strong.
- Macro funds were the big loser among primary strategies, with -$6.38 billion in outflows. Other big asset losers among primary strategies were Relative Value Credit Funds, at -$2.84 billion in outflows, and Managed Futures Funds, at -$1.40 billion in outflows.
- Funds focused on the Americas and Asia saw outflows of -$1.7 billion and -$2.05 billion respectively.
To download a full copy of this report, please click here.