Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Denver news in your inbox
Catch up on the most important stories affecting your hometown with Axios Denver
Des Moines news in your inbox
Catch up on the most important stories affecting your hometown with Axios Des Moines
Minneapolis-St. Paul news in your inbox
Catch up on the most important stories affecting your hometown with Axios Twin Cities
Tampa Bay news in your inbox
Catch up on the most important stories affecting your hometown with Axios Tampa Bay
Charlotte news in your inbox
Catch up on the most important stories affecting your hometown with Axios Charlotte
Global investors pulled $3.78 billion from hedge funds in May, despite overall outperformance against the stock market, a new survey from data firm eVestment shows. However, there was significant difference in redemptions based on size and performance.
Between the lines: Hedge funds with strong performance during the month saw inflows across asset classes, with the lone exception of multi-asset funds, while hedge funds that lost money broadly saw investors pull out their cash.
- Hedge fund returns overall were negative last month after 4 straight months of gains to start the year, but still posted much slimmer losses than the broader U.S. stock market.
The big picture: Hedge funds have seen $25.43 billion of outflows so far this year, and performance losses have further reduced the industry's total assets under management to $3.24 trillion.
Go deeper: The hedge fund moment is over