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Hedge funds see redemptions of $22bn in April

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Hedge fund redemptions slowed somewhat in April though the trend continued, according to the latest BarclayHedge Fund Flow Indicator.

The month’s outflows totalled $22.40 billion, 0.44% of industry assets, a reduction from the $35.37 billion in outflows the industry experienced in March.

A $131.83 billion trading loss during the month brought total hedge fund industry assets to nearly $5.11 trillion as April ended.

For the 12 months through April the global hedge fund industry experienced $87.21 billion in inflows. A $211.06 billion trading loss over the period brought total industry assets to $5.11 trillion figure as April ended, down from $5.14 trillion at the end of March but up from $4.27 trillion a year earlier.

Subsectors bucking the redemption trend to post inflows in April included Multi-Strategy funds, adding $6.84 billion, Equity Long/Short funds, with $2.15 billion in net inflows, Merger Arbitrage funds, bringing in $848.16 million, Option Strategies funds, adding $815.53 million, and Distressed Securities funds, with $51.45 million in inflows.

Subsectors seeing the largest outflows in April included Fixed Income funds, with $13.29 billion in redemptions, Equity Long Bias funds, shedding $4.44 billion, Emerging Markets – Global funds, with $3.27 billion in outflows, Equity Long-Only funds, with $2.65 billion in redemptions, and Sector Specific funds, with $2.17 billion in outflows.

The managed futures industry fared better in April, posting $4.99 billion in inflows, building on $2.09 billion in inflows in March and $2.93 billion in February. Three of four CTA subsectors experienced inflows for the month.

Over the 12-month period through April, the managed futures industry experienced $5.49 billion in inflows. A $46.58 billion trading profit over the period contributed to the $380.59 billion in total CTA industry assets, up from $339.17 billion a year earlier.

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