Single-strategy and multistrategy hedge fund assets decreased 2% during the second quarter to $1.059 billion, while hedge funds of funds grew by 10.5% to $564 billion, according to new data from the Barclay Group. Managed futures also experienced slight growth, up 0.08% to $121 billion during the same period.
Despite the second-quarter decline in net hedge funds flows, hedge fund assets have grown by 1.6% or $17 billion this year, according to Barclay Group data. Assets under management in half of the 14 hedge fund sectors the firm monitors declined in the second quarter; five sectors increased; and two declined. Assets in the equity long-only sector fell 15.45% to $18.6 billion, and convertible arbitrage assets dropped 13.72% to $52.2 billion. Assets invested in the emerging markets sector grew for the eighth consecutive quarter, rising 8.83% to $103.5 billion. Event-driven fund assets increased 13.72% in the quarter to $99.3 billion.
