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Hedge fund investors pull $80 billion from industry in 2023 - Aurum

The hedge fund industry saw a net $80 billion of outflows for the year to Oct. 18, even as it raked in net profits of about $119 billion, hedge fund specialist Aurum Funds said in a report on Wednesday, as investors looked for higher returns elsewhere. Multi-strategy hedge funds did the best, posting a positive 5.9% return so far this year, just ahead of credit hedge funds with a positive 5.6% return, Aurum said. But investors may have been tempted away by rising bond yields, said Don Steinbrugge, founder and chief executive of Agecroft Partners, a hedge fund consulting firm.