Europe's hedge funds suffered a fourth consecutive quarter of net outflows in the first three months of this year, new figures from Preqin have shown, with assets down $8.5 billion across the region.

Europe was the only jurisdiction to lose assets in the first quarter of the year. Despite the poor showing in the region, the hedge fund industry globally has managed to reverse five continuous quarters of net outflows, with incoming cash totaling $19.7 billion in the first quarter of this year.