The global hedge fund industry is looking to finish off 2017 strong with November inflows of $10.79 billion, bringing year-to-date (YTD) flows to +$40.10 billion and overall industry AUM to $3.26 trillion, according to the just-released November 2017 eVestment Hedge Fund Asset Flows Report.
While November was positive both in terms of flows and the proportion of managers experiencing inflows (52% with inflows), for the year, only 40% of funds have net inflows. The implication is that while overall inflows indicate the industry is healthy, the that health is not universal and assets are consolidating.
Some interesting points from the November report include:
- Equity-focused funds saw +$9.28 billion in new assets in November, bringing year-to-date inflows to +$25.02 billion and overall segment AUM to $1.13 trillion.
- After a strong 2016 where they saw +$11.08 billion in inflows, Commodities funds saw outlows of -$2.17 billion in November and -$6.95 billion in the past three months following challenging performance.
- Among primary strategies, Long/Short Equity and Multi-Strategy funds were among the big winners in November, with +$7.55 billion and +$4.24 billion in new AUM. For the year Equity-focused funds are way ahead of the pack among primary strategies with +$16.22 billion in inflows.
- At +$1.82 billion, Managed Futures funds gained assets for a second consecutive month as strong performing funds were rewarded.
- The big loser among primary strategies was Relative Value Credit funds, which saw -$2.47 billion in outflows in November, bringing YTD outflows to -$7.28 billion.
To download the full report, please click here.