Hedge funds rake in record inflows |
Date: Friday, October 20, 2006
Author: Polya Lesova
A record $44.5 billion in new assets flowed into hedge funds in the third quarter, according to published reports citing data from Chicago-based Hedge Fund Research Inc.
The figure represents the biggest single-quarter gain since the firm began tracking fund assets in 2003.
Total assets in the hedge fund industry amounted to $1.34 trillion at the end of September.
Despite the unprecedented money flows, hedge funds delivered a lackluster performance this quarter, returning about 1% on average, reports said.
Investors poured a net $9.8 billion into multi-strategy funds, the highest amount in the quarter.
Stock funds came in second with $8.9 billion and $23.8 billion flowed into fund of funds.
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