Hedge Fund Asset Flows Report – November 2018

About the Report

Over 2,000 hedge fund firms submit data about their products to eVestment every month, including performance, assets, strategy details, primary investment markets and regional focuses. The calculated asset flows for these products provide the basis for estimating the distribution and flow of assets through the broad hedge fund industry.

As you are looking to supplement your own research with external sources, the kind of data provided in this report can help you to form an opinion about an asset class or follow the continuing, or emerging trend as you are developing the allocation decisions for your portfolio.

Hedge Funds See Third Consecutive Month of Outflows in November

November marked the global hedge fund industry’s third consecutive month of outflows, with investors pulling an additional $6.68 billion from funds around the world, according to the just-released November 2018 eVestment Hedge Fund Asset Flows Report. Year to date (YTD) hedge fund outflows stand at -$14.77 billion. Through November 59% of hedge fund managers reported outflows for the year in what has been a tough 11 months for hedge fund performance (see detailed performance data on page 3 of the report).

Equity funds were a bright spot in the industry for November. Among hedge fund types, Equity funds pulled in an additional +$3.45 billion in November and among primary strategies Long/Short Equity funds pulled in +$3.39 billion last month. Equity funds are strongly positive YTD, with an additional +$9.43 billion being invested with those funds. Long/Short Equity fund flows however are negative for the year, at -$1.90 billion.

Report Highlights:

  • Investors removed an estimated $6.68 billion from hedge funds in November. YTD outflows nearly $15 billion.
  • Macro managers saw elevated redemptions continue into November, and managed futures redemptions continued for a ninth month.
  • Directional equity flows were positive, led by outperforming quant strategies.
  • EM fund flows were negative for the sixth month as pockets of positivity seen in the past mostly disappeared.

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