Q3 hedge fund redemptions hit $13bn

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Data from Eurekahedge suggest net redemptions from hedge funds saw $13bn withdrawn from hedge fund strategies through the third quarter this year.

The flows came despite performance data suggesting that hedge fund strategies overall beat the MSCI World index through September, although over the year to date they have slightly underperformed the index.

The Eurekahedge Hedge Fund index returned 0% through September against a -1.86% performance by the benchmark. Over the year the relative figures are 3.87% versus 3.99%, as the MSCI World index has performed better.

Key points noted by Eurekahedge include

  • CTA/managed futures funds reported the biggest gain of 2.47% in September, bringing their year-to-date returns up to 6.54%, the highest out of all strategic mandates
  • Japanese hedge funds were the only developed country mandate to post a gain during the month, reporting their fifth consecutive month of gains, beating the benchmark Nikkei 225 index by almost 3.5% year-to-date
  • Latin American managers suffered losses of 2.03% during the month, though outperforming the MSCI Latin America Index which fell 7.74%
  • India focused hedge funds posted their eighth consecutive month of gains, up 2.62% in September and 30.88% year-to-date
  • Eastern Europe and Russia investing funds were down 4.08% in September, and down 11.57% year-to-date – the worst performer among all regional mandates.
  • Distressed debt strategies posted a loss of 2.24% in September, their biggest monthly loss in the past three years

 

 Regional Indices September
2014*
2014 YTD
Returns
2013
Returns
Eurekahedge North American Hedge Fund Index -0.18 5.26 10.51
Eurekahedge European Hedge Fund Index -0.13 1.29 9.24
Eurekahedge Eastern Europe & Russia Hedge Fund Index -4.08 -11.57 -0.99
Eurekahedge Japan Hedge Fund Index 0.76 2.78 27.82
Eurekahedge Emerging Markets Hedge Fund Index -1.52 3.62 5.16
Eurekahedge Asia ex-Japan Hedge Fund Index -0.18 6.58 11.72
Eurekahedge Latin American Hedge Fund Index -2.03 3.70 1.68
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