Geneva’s funds of hedge funds saw client money inflows for the first time in 11 months in August, according to Eurakahedge figures compiled for Bloomberg.

Net inflows were $30 million, after withdrawals of $2 billion in July. Total assets in such funds rose just under 1 per cent to $14.3 billion, after slumping 74 per cent during the previous 19 months.

The class returned 1.2 per cent in August against 1.4 per cent for July. Funds of hedge funds fell 22.4 per cent last year compared with an average 19 percent drop in hedge funds worldwide.