Hedge Funds October 2009

Hedge Funds October 2009

6th Straight Month of Inflows, Performance Falls in October


For the sixth straight month, hedge funds had inflows in October but another streak came to an end as hedge fund performance gains fell slightly last month.  Inflows were $14.2 billion in October, an increase from the previous month.  Hedge fund assets have grown by 1.8% in this year with an estimated current asset level of $1.967 trillion, just shy of the two trillion dollar mark.
Despite the 0.4% drop in Hedgefund.net's key industry reading, it said funds on average remain on pace to return nearly 20% this year, which would be their best showing since 2003.
October saw investors most active in equity-related strategies, pushing inflows up 1.6%. Merger arbitrage led primary strategies, increasing 2.8%.
On a performance basis, the emerging market index was among the gainers last month with a 2% advance, putting the year's gains at 39%. Funds investing in Russia led the way in October, followed by China and Brazil.
Hedge funds have been rebounding from their worst-ever year in 2008. Funds on average lost about 20% last year, though that was far less than the decline for major stock averages.  Source


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