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Allocations to hedge funds surged in October - HFN

Tuesday, November 16, 2010
Opalesque Industry Update - The industry’s core rate of growth reached its highest level of the year in October while commodity and emerging market funds led broadly positive returns.

Below are early estimates for October 2010 hedge fund performance and asset flows. A full report will be available later in the month.

October Highlights:
The HFN Hedge Fund Aggregate Index was +2.23% in October and +7.43% in the first ten months of 2010. The S&P 500 Total Return Index (S&P) was +3.80% in October and +7.84% YTD.

Hedge fund assets increased an estimated +3.04% in October to $2.410 trillion. Performance accounted for an estimated net increase of $52.7 billion and net investor flows added an additional $18.4 billion.

The core rate of industry growth (% of asset increase due to net investor flows) in October was the highest rate of 2010, +0.79%.

October was the fourth month in a row of net investor inflows following the industry’s first net outflow of 2010 in June. The continuation of net inflows is an important sign of support as the trend in the first half of the year was of declining rates of growth.

October performance was driven by the anticipation of quantitative easing by the U.S. Federal Reserve as commodity focused funds performed best, followed by emerging markets and equity focused strategies. Fixed income funds lagged, but were broadly positive. Only short biased and Japan focused funds produced negative average performance in October...Full performance table:Source

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