Hedge Fund Industry Assets Sink as Performance Ebbed in Second-Quarter
Hedge fund capital dropped from $2.13 trillion in the first quarter to $2.1 trillion, with the average fund down 2.7 percent, fund tracking firm Hedge Fund Research said on Thursday.
About 70 percent of all hedge funds recorded net outflows of $39.2 billion last quarter, while the remaining 30 percent gained $43.3 billion in new capital, HFR said.
Investors continued to send cash to the biggest hedge funds in the quarter, allocating over $11 billion to those firms with assets greater than $5 billion. Hedge funds with assets below $5 billion recorded almost $7 billion in outflows.
Source: Reuters
