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Investors Pull $9.4bn From Hedge Funds In March

Investors redeemed an estimated net $9.45 billion from hedge funds in March, according to a report from eVestment. But for all of Q1 2018, hedge fund asset flows were positive at +$14.33 billion, bringing overall industry AUM to $3.32 trillion, according to the just-released March 2018 eVestment Hedge Fund Asset Flows Report.

Among hedge fund types, Equity funds were big winners in March, with assets up +$3.95 billion for the month and +$10.43 billion for Q1. Multi-Asset funds were among the big losers for the month, with AUM falling -$10.55 billion in March.

A few other interesting points from the report include:

  • Among primary strategies, Long/Short Equity funds were among the big winners in March, with AUM up +$2.37 billion for the month, bringing quarterly AUM up +$6.26 billion.
  • Market Neutral Equity funds also saw AUM increase, up +$1.79 billion in March and +$2.91 billion for the quarter.
  • Inventors seem to finally be responding to performance challenges in Managed Futures funds, with these funds seeing among the biggest drops in AUM in March: -$6.04 billion. This contrasts sharply with the 12-month span ending February 2018, during which an estimated +$11 billion flowed into these funds, despite performance losses in the prior six-month period.
  • Among firm domiciles, European-based firms saw strong asset flows in March, up +$7.16 billion for the month and +$11.84 billion for Q1.