Investors add to hedge fund holdings in November - data
LONDON Dec 11 (Reuters) - Investors added more cash to hedge funds than they redeemed in November, encouraged by managers making money even as the stock market rally paused, new data showed on Wednesday.
The SS&C GlobeOp Capital Movement Index, which calculates monthly hedge fund subscriptions less redemptions, measured 0.6 percent during the month to Dec. 1. The index read 0.44 percent for the same month last year.
So far this year hedge funds have enjoyed net new money in eight of the 11 months, underlining how investors are returning to the sector as performance improves.
According to the SS&C GlobeOp Hedge Fund Performance Index, the gross return of the average fund was 1.47 percent last month, bringing year-to-date gains to 9.93 percent.
However, the returns come in a year when the leading equity indexes have risen sharply, with the MSCI World Index up by more than 20 percent in the first 11 months of 2013.
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