Asset Flows: Investors seek out mixed arbitrage funds

By Amal Robleh

Tue Aug 5, 2014

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Redemptions for MBS and managed futures.


Hedge fund inflows slowed in June as a little more than half of the strategies tracked took in new capital, down from 11 of 15 strategies with inflows in May.

Investors remained bullish on mixed arbitrage funds, which were the biggest winners, with inflows of 6.61% for the month. 

Convertible & equity arbitrage funds had 7.46% pulled from the strategy, the greatest outflows of the month.

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 (June) and previous month (May) managed a total of $458 billion.

Change in assets (June 2014)

Strategy

Fund Flows

Performance

Total

Commodities

0.39%

0.20% 0.58%

Convertible & Equity Arbitrage

-7.46%

0.08% -7.38%

Credit

1.53%

0.85% 2.38%

Distressed

1.71%

1.21% 2.92%

Event Driven

0.91%

2.37% 3.28%

Fixed Income

0.95%

0.58% 1.52%

Global Equity

1.65%

0.74% 2.39%

Latin American Equity

-0.86%

2.30% 1.44%

Macro

-0.28%

1.16% 0.89%

Managed Futures

-1.91%

1.09% -0.83%

Mixed Arbitrage

6.61%

2.06% 8.67%

Mortgage Backed Securities

-2.60%

0.36% -2.24%

MultiStrategy

0.49%

0.37% 0.86%

U.S. Equity

-0.40%

1.27% 0.87%

Other*

-4.13%

0.24% -3.89%

Total

0.02%

1.01% 1.03%

*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