October positive for hedge fund inflows 26 November 2013New York Reporter: Daniel Jackson
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Multi-strategy hedge fund flows outpaced all others in October while macro strategies continued to attract allocation, according to eVestment.
In October, investors allocated heavily to hedge funds for the fourth consecutive month. An estimated $9.3 billion was added during the month totalling $56.4 billion during the four-month streak. October’s performance gains increased assets under management by an additional $47.6 billion.
The estimated asset weighted performance of 1.74 percent is the industry’s largest since December 2010. With $2.802 trillion in assets under management, the industry is nearing its all-time pre-financial crisis peak.
Investor interest in equity hedge funds appears to have turned positive with another month of elevated inflows in October. After 24 months of negative investor sentiment, which appears to have ended in June, $18.4 billion has been allocated in the ensuing four months, pushing 2013 flows into positive territory.
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