BOSTON, Dec 6 (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. (Reporting by Svea Herbst-Bayliss; Editing by Derek Caney)