U.S. Markets

Investors retreat from hedge funds after tough December: SS&C

LONDON (Reuters) - Investors pulled money out from hedge funds in January following a poor performance across the industry in December, data from hedge fund administrator SS&C GlobeOp showed.

The SS&C GlobeOp Capital Movement Index, which calculates monthly hedge fund subscriptions minus redemptions at the start of each month, fell 2.77 percent in January.

“January typically sees the highest outflows of any month as investor rebalancing occurs,” said Bill Stone, chairman and chief executive of SS&C Technologies.

The average hedge fund returned minus 2.01 percent in 2015, data from data tracker eVestment showed, with funds hit by concerns including around the outlook for global growth.

Reporting by Maiya Keidan; Editing by Greg Mahlich