Fund administration firm Citco reports that its hedge fund clients saw more redemptions that inflows last month as investors still try to come to terms with large scale market shifts.
In its latest industry report from June, hedge fund managers logged $15.7 billion in investor inflows -- a 50% boost from May. Yet, it wasn’t enough to stem the tide as firms saw a whopping $25.8 billion in redemptions leading to net outflows of over $10 billion last month.
Hedge fund returns on average were down over 2% in June, according to Citco . . .
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