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“First half inflows to hedge funds this year totaled $82.5 billion (3.8% of assets), the most since 2007,” said Sol Waksman, president and founder of BarclayHedge. By comparison, the industry took in $26.8 billion (1.5% of assets) in the first half of 2013.
Industry assets climbed to a six-year high of $2.35 trillion in June, according to estimates based on data from 3,441 funds. Assets rose 21.0% in the past 12 months but were down 3.6% from the all-time high of $2.4 trillion in June 2008.
The monthly TrimTabs/BarclayHedge Hedge Fund Flow Report noted that the hedge fund industry gained 1.4% in June. While this performance was the best in four months, it was less than the S&P 500’s 2.1% gain. In the past 12 months, hedge funds returned 10.8%, while the S&P 500 gained 24.6%.
“Equity Long Only funds had the best returns in June, gaining 3.4% and outperforming all other fund categories,” said Waksman, who also noted that Convertible Arbitrage funds fared worst, edging up 0.4%.
The monthly TrimTabs/BarclayHedge Survey of Hedge Fund Managers finds hedge fund managers narrowly divided on the short-term prospects for U.S. equities. July’s survey found 37.2% of respondents were bullish on the S&P 500 over the next 30 days, while 34.6% were bearish. Optimism on the U.S. Dollar Index rose to a two-year high, while bullish sentiment on gold hit a five-month high. The proportion of managers expecting crude oil prices to rise dropped to the lowest level in six months.
The TrimTabs/BarclayHedge database tracks hedge fund flows on a monthly basis. The TrimTabs/BarclayHedge Hedge Fund Flow Report provides detailed analysis of these flows as well as relevant topical studies. Click here for further information.
BarclayHedge is a leading hedge fund data vendor and one of the foremost sources for proprietary research in the field of alternative investments. From its origin as a research specialist and performance measurement firm, BarclayHedge has developed complete client services as a publisher, database and software provider, and industry consultant.
TrimTabs Investment Research is the only independent research service that publishes detailed daily coverage of U.S. stock market liquidity--including mutual fund flows and exchange-traded fund flows--as well as weekly withheld income and employment tax collections. Founded by Charles Biderman, TrimTabs has provided institutional investors with trading strategies since 1990. For more information, please visit us here.
