LONDON, May 12 (Reuters) - Investors added more cash to hedge funds than they redeemed in May, even though performance dipped during April, new data showed on Monday.
The SS&C GlobeOp Capital Movement Index, which calculates monthly hedge fund subscriptions minus redemptions, rose 0.94 points during May to 149.5 points, just shy of its record high of 150.77 points in September 2013.
During April, however, the SS&C GlobeOp Hedge Fund Performance Index showed the performance of the funds administered by the group on its platform fell 0.59 percent to bring year-to-date gains for the index to 1.97 percent.
"Subscriptions outpaced redemptions by two to one, whereas capital activity was down from prior-month levels," said Bill Stone, chairman and CEO of SS&C Technologies.
Reporting by Simon Jessop; Editing by David Goodman