The hedge fund industry again suffered large aggregate redemptions in July 2016, with investors redeeming an estimated net $25.2 billion during that month. These redemptions follow outflows of $23.5 billion in June. The latest wave of redemption pressure brings year-to-date flows to a negative $55.9 billion.
In terms of cumulative magnitude, the redemption pressures facing the hedge fund industry in the last two months are reminiscent of the second half of 2011 when, in a four-month span, invest
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