Hedge Funds Add $28B In April

May 25 2011 | 11:12am ET

Investors flocked to hedge funds in droves in April, according to new figures from Eurekahedge.

The industry took in $28.33 billion in new money last month, its largest monthly inflow in almost three years. That helped push total industry assets to $1.81 trillion, the first time they've reached that level since the financial crisis.

All told, net inflows for the year through April have totaled $93.94 billion, nearly half as much as the $66.24 billion the industry took in all of last year.

Strong performance counted for almost as much of last month's growth as investor inflows: Performance gains were $23.97 billion on the month, hedge funds' 10th straight of positive average returns.

Eurekahedge said that long/short equity funds have been the biggest beneficiaries of the inflows, adding $30.7 billion this year. But interest (and investment) in event-driven funds have seen that strategy grow larger than $200 billion, its highest asset level ever.

Even funds of hedge funds were carried along, enjoying their first positive quarterly flows since the beginning of 2008.


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