Emerging market hedges funds has a net withdrawal of $1.5 billion in the second quarter, the second consecutive quarter that it has experienced a net capital withdrawal.

Combining second quarter outflows with performance-based losses, total capital invested in emerging market hedge funds dropped by $3.2 billion, ending the quarter at a little under $95 billion, according to data released by Hedge Fund Research. It was the seventh quarter in the last eight in which EM hedge funds have experienced a net capital withdrawal.

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