Hedge Funds Record Positive Flows In Oct.

Nov 14 2012 | 12:34pm ET

Investors added to their hedge fund portfolios in October, according to the SS&C GlobeOp Capital Movement Index.

The benchmark rose 0.54% in the month ended Nov. 1. SS&C CEO Bill Stone said that such moves are to be expected at this time of the year, especially when hedge funds are performing relatively well: SS&C's Hedge Fund Performance Index ticked up 0.13% in October, while the broader markets generally took a hit.

"Overall capital activity remains consistent with previous years as hedge funds enter the last quarter with positive capital flows," Stone said. But in an interview with Reuters, he suggested that the fate of hedge funds in the fourth quarter remains up in the air.

The run-up to the U.S. presidential election last week, which saw President Barack Obama returned to office, "put a few people on the sidelines," he said. "I think there was a reticence on all financial instruments about where to go." But Obama's re-election could be bad news for hedge funds, as investors may redeem to take profits ahead of tax hikes expected at the beginning of the year.


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