(Opalesque) Investors removed an estimated net $5.20 billion from hedge funds in April. Performance accounted for an increase in assets. The result of both factors was a slight increase in estimated industry AUM to $3.624 trillion, according to eVestment.
From a strategy perspective, capital raising themes have mostly stayed the same for several months. Multi-strategy managers along with managed futures have continued to raise new assets while credit and long/short equity funds have generally had a difficult time. While those basic themes continue, there are more subtle changes happening which point to a weakening of the success the industry has had, overall, since the onset of the COVID-19 pandemic.
