Hedge funds took in $3.8 billion in September

Date: Tuesday, November 9, 2010
Author: Svea Herbst-Bayliss, Reuters

Global hedge funds took in $3.8 billion (2.36 billion pounds) in new money in September, marking the third straight month of inflows, data released on Monday by TrimTabs and BarclayHedge show.

As hedge fund industry performance improved -- the average fund rose 3.5 percent in September, investors again made allocations. September was "a good month for hedge-fund managers," said Sol Waksman, founder and president of BarclayHedge.

Waksman said nine out of 10 managers reported a profit for September.

Investors added $16.1 billion into hedge funds in the past three months, leaving the industry with $1.6 trillion.