Hedge Funds See Largest Redemptions Since 2009
Investors have pulled an estimated $25.2 billion from hedge funds in July, the biggest monthly redemption since February 2009, according to an eVestment report. In total, this brings total outflows this year to $55.9 billion driven by mediocre performance after a number of funds lost money last year.
“Investors have pulled an estimated $25.2 billion from hedge funds in July, the biggest monthly redemption since February 2009.”
The largest outflows in July came from the credit and multi asset funds about $10 billion from each category. Hedge funds, which charge some of the highest fees in the money-management business, have faced mounting criticism from clients over steep costs and performance that mostly hasn’t kept pace with stock markets.
Related Reports: Bloomberg
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