Hedge funds see $26 billion in net outflows in Q3 - HFR
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FILE PHOTO: A stock broker works at Frankfurt's stock exchange as markets react on the coronavirus disease (COVID-19), at the stock exchange in Frankfurt, Germany, March 27, 2020. REUTERS/Kai Pfaffenbach
NEW YORK (Reuters) - Global investors redeemed $26 billion from hedge funds in the third quarter, in the second consecutive quarter of net asset outflows, industry data provider HFR said on Thursday.
In the year, investors pulled out $33.7 billion from hedge funds worldwide, HFR showed, as poor performance has spooked pension funds, endowments and family offices.
The HFRI fund-weighted composite index is down 6.66% this year through September, as portfolio managers struggle to navigate highly volatile markets.
Assets in the hedge fund industry fell almost $220 billion since the end of 2021, to $3.7 trillion, hit by poor performance and redemptions.
(Reporting by Carolina Mandl, in New York)
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