Hedge funds added about $49.6 billion during the first quarter of 2017, according to Eurekahedge. The asset gain was almost a 50/50 split between performance-based asset gains and net client flows. The $26.1 billion in new client money was a stark reversal from 2016 where the industry saw a net $55.1 billion in outflows. The industry saw positive net flows in each month of the first quarter. February was the best month of the quarter, with $11.7 billion in asset flows and another $17.6 billion in performance gains.