Hedge funds take in $16 bln in October-report |
Date: Tuesday, December 7, 2010
Author: Svea Herbst-Bayliss, Reuters
Global hedge funds pulled in $16 billion in new money in
October, marking the strongest inflows in nearly one year,
according to data released on Monday from TrimTabs and
BarclayHedge. Pension funds, endowments and wealthy investors nearly
quadrupled the amount of money they allocated to hedge funds in
October when the average fund returned roughly 2 percent. TrimTabs and BarclayHedge said this marks the fourth straight
month that hedge funds pulled in more money than they returned. In September investors added $3.8 billion in new money. "Flows are doubtless following performance," said Sol Waksman,
founder and President of BarclayHedge. "Hedge funds returned
1.95 percent in October and 7.10 percent in the four months
following the May-June skid," he added.
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