- Long/short equity leads redemption numbers; as $7.6bn left the wider industry in October: eVestment
- Related: Allocators shake up multi-strategy holdings
- See AFI’s dedicated sections for FLOWS and MULTI-STRATEGY news
Hedge fund outflows continued last month, with a net $5bn being pulled from long/short equity according to eVestment.
Most strategies saw outflows, including multi-strategy operators, which had a $1.5bn reduction, leaving it down $4.2bn year-to-date in a big turnaround after two years of inflows.
But long/short equity (-$28bn) and event-driven (-$23.5bn) have seen the biggest reductions due to outflows so far this year.
Fixed income and credit funds continue to be the most popular, growing by $0.4bn on inflows in October, their fifth month of positive movement in six. But year-to-date flows for the strategy group are still in negative territory (-$2.8bn).
The hedge fund industry as a whole had a net outflow of $7.6bn in October, taking YTD flow movement to -$74.9bn.