August was the best month of 2013 for hedge funds asset raising, according to new data released by eVestment. Inflows to the industry totaled $19.6 billion for the month.
Opalesque noted that equity strategies have seen the most interest from investors over the past quarter. The report’s data showed “that the last time equity exposure was this positive was just prior to the height of the European financial crisis.” Credit strategies also received positive inflows throughout August.
Data from the report also showed that 59% of funds with assets under management greater than $1 billion had net inflows during August. Those funds accounted for nearly 70% of all inflows in August, totaling $11.3 billion. This group of large funds accounts for 8% of funds reporting for the month of August. The trend, Opalesque noted, of increased direct investments from large institutional investors helps account for the concentration of assets to the largest funds.
Read more about August’s positive industry asset flows online from Opalesque.