After being just slightly positive in April 2018, hedge fund AUM was just slightly negative in May of this year, with investors pulling $1.59 billion from the industry during the month, according to the May 2018 eVestment Hedge Fund Asset Flows Report. Overall year-to-date fund flows are still positive, at +$12.51 billion, with overall industry AUM sitting at $3.319 trillion.
Despite the visible negativity, there are still many products gaining assets, but for each gainer there was another losing a little bit more. For instance, among hedge fund types, Equity-focused funds pulled in +$3 billion in May and Commodities funds pulled in $470 million, while Fixed-Income/Credit funds saw AUM fall -$2.38 billion and Multi-Asset funds saw AUM fall -$2.63 billion.
Some other interesting points from the latest report include:
- Among primary strategies, Multi-Strategy funds saw AUM increase +$2.23 billion. However, YTD 2018 flows are still negative at -$2.74 billion, following up a negative full year 2017 where Multi-Strategy fund AUM dropped -$4.11 billion.
- Market Neutral Equity funds are having a strong year among primary strategies, with inflows of +$1.76 billion in May and YTD AUM up +$5.89 billion. These funds had a strong year last year as well, with flows at +$11.57 billion.
- Managed Futures fund redemption pressures continued in May, with these funds seeing -$3.92 billion in flows. About 63% of reporting managed futures products experienced redemptions in May, bringing the proportion losing assets YTD up to 60%.
- Half of Emerging Markets funds saw positive flows in May, with segment AUM up +$570 million, and more than half are positive YTD, bringing YTD Emerging Markets fund flows to +$2.22 billion and overall Emerging Markets fund AUM to $308.46 billion.
To download a full copy of the report, please click here.