Investors continue to funnel money into U.S. equity funds. The strategy, which is up 11.06% this year, took in net assets of 3.60% in October. Solid performance gains of 2.24% resulted in total assets increasing 5.84% for the strategy.
Event-driven funds may be suffering from their own success, with investors re-balancing. The strategy had net outflows of 0.77% in October despite generating an asset-weighted gain of 2.42% for the month (the strategy has produced a median unweighted performance gain of 11.26% for the year).
Four straight months of performance gains for multistrategy funds led to a 2.12% net increase in assets.
Latin American equity funds continued to suffer in October despite an asset-weighted performance gain of 5.31%, the best of any strategy, with investors pulling 4.74% of their capital; some investors have reduced their exposure to emerging markets in the second half of the year from fears that a reduction in U.S. monetary stimulus could result in currency repatriation resulting in an especially sharp decline for foreign assets.
A full chart of fund flows is provided below. This new monthly feature is 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 (October) and previous (September) month managed a total of $342 billion.
|
Change in assets
|
|||
| Strategy |
Fund Flows |
Performance |
Total |
| Commodities |
-0.04% |
-2.51% |
-2.55% |
| Convertible & Equity Arbitrage |
0.31% |
0.99% |
1.30% |
| Credit |
0.17% |
0.67% |
0.84% |
| Distressed |
1.02% |
1.33% |
2.35% |
| Event Driven |
-0.77% |
2.42% |
1.65% |
| Fixed Income |
1.47% |
1.00% |
2.48% |
| Global Equity |
0.94% |
2.37% |
3.31% |
| Latin American Equity |
-4.74% |
5.31% |
0.58% |
| Macro |
0.63% |
1.91% |
2.54% |
| Managed Futures |
1.09% |
-0.43% |
0.65% |
| Mixed Arbitrage |
0.91% |
1.28% |
2.19% |
| Mortgage Backed Securities |
0.74% |
0.33% |
1.07% |
| MultiStrategy | 2.12% | 0.77% |
2.89% |
| U.S. Equity |
3.60% |
2.24% |
5.84% |
| Other* |
0.55% |
1.11% |
1.66% |
| Total |
1.05% |
1.54% |
2.59% |
*The category 'Other" refers to those funds whose strategies are not well represented enough in the database i.e. Emerging Market Debt, Emerging Market Equity and Volatility.