Hedge funds notched up $7.54bn of net inflows during the second quarter, despite investor withdrawals of almost as much in June.

During the three-month period, more than 50% of funds received net new money each month, according to the latest report from eVestment, and redemptions were "noticeably more concentrated than allocations". This indicates that the net $7bn pulled in June was the result of higher outflows from a limited number of funds, the data provider added.