Asset Flows: Credit funds soak up allocations

By Amal Robleh

Tue Jun 10, 2014

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Distressed funds suffer outflows.


Hedge funds enjoyed a positive start to the second quarter, with more than half of the strategies tracked experiencing positive inflows. 

Credit funds were the biggest winners in April, with inflows of 5.67%. 

Outflows continued for mortgage-backed securities funds as investors sought opportunities elsewhere and pulled 1.09% from the strategy. 

A full chart of fund flows is provided below. Monthly asset flow analyses are based on self-reported monthly asset and performance figures from Americas-based hedge funds listing in the HedgeFund Intelligence database. Funds reporting their monthly assets in both the current month (April) and previous month (March) managed a total of $433 billion.

Change in assets (April 2014)

Strategy

Fund Flows

Performance

Total

Commodities

0.81%

1.84% 2.64%

Convertible & Equity Arbitrage

0.10%

0.69% 0.79%

Credit

5.67%

0.65% 6.32%

Distressed

-1.77%

0.67% -1.11%

Event Driven

1.74%

-0.85% 0.88%

Fixed Income

2.64%

0.46% 3.10%

Global Equity

-0.49%

-1.99% -2.47%

Latin American Equity

1.01%

1.38% 2.39%

Macro

0.59%

1.34% 1.93%
Managed Futures 1.05% -0.05% 1.01%

Mixed Arbitrage

1.64%

0.47% 2.11%

Mortgage Backed Securities

-1.09%

0.38% -0.72%
Multistrategy 2.74% -0.53% 2.20%

U.S. Equity

0.24%

-0.41% -0.17%

Other*

-0.02%

0.24% 0.22%

Total

1.04%

0.37% 1.41%

*The category 'Other" refers to those funds managing strategies are not well represented enough in the database, such as Emerging Market Debt, Emerging Market Equity and Volatility, to justify discrete categorization.

Note: Strategy performance in this table is based on asset-weighted returns for funds reporting monthly assets and will therefore differ from the strategy performance of the Absolute Return Indices, which present the median return for all hedge funds within each strategy that report performance (and not necessarily assets) to the database. 

ISSN: 2151-1845 / CDC10004H