$3 billion in assets left hedge funds over the month of July according to TrimTabs and BarclayHedge, two groups that track asset flows into private funds. These net redemptions came after hedge funds posted disappointing average performance over May and June. Hedge funds were down an average of 3.2% and 1.9% in May and June, respectively. Emerging market funds were among the hardest hit as investors looked to reduce exposure to riskier assets in light of poor recent economic data, suggesting that the global economic recovery is moving more slowly than previously thought. Fixed income funds and commodity trading advisors both experienced inflows during July. Go to article from Reuters