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Laxman Pai, Opalesque Asia: Hedge funds saw $1.9 billion in net inflows, reversing a four-month redemption trend and despite major outflows in the U.S. and China, said BarclayHedge. However, Brexit fears were curbed in the U.K., which experienced $2.9 billion in inflows.
According to the Barclay Fund Flow Indicator, October's inflows represented 0.1% of industry assets and were a turnaround from September's $14.7 billion in redemptions.
Coupled with $14.7 billion in October trading profits, the inflows brought total industry assets to more than $3.13 trillion as the month ended, up from $3.05 trillion at the end of September.
October's net inflows came despite troubling economic news that led to significant redemptions from hedge funds in the U.S., its offshore islands, China and Hong Kong.
Investors pull $3.5 billion from hedge funds in the U.S.
Data showed investors pulled nearly $3.5 billion from hedge funds in the U.S. and its offshore islands during October, while funds in China and Hong Kong experienced more than $1.0 billion in redemptions.
Still, hedge funds in the U.K. and its offshore islands managed to shake off the Brexit fears that had troubled investors to post nearly $2.9 billion in inflows, contributing to the industry-wide tally.
"News of manufacturing downturns around the world, recession fears, and heightened U.S.-China trade tensions shaped many investors' attitudes," said Sol Waksman, president of BarclayHedge. "Sti...................... To view our full article Click here
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