Hedge funds took in more than $4 billion in new money in September, pushing the industry to its highest asset level in five years.
The net inflow of $4.1 billion was the third positive month in a row for hedge funds, according to BarclayHedge and TrimTabs Investment Research.
"The hedge fund industry has received $51.6 billion in 2013, which is a huge turnaround from the outflow of $2.6 billion in the same period last year," BarclayHedge founder Sol Waksman said.
Funds of hedge funds haven't seen that turnaround, however, posting their 22nd monthly outflow in the last 24 months. September's net outflow was $2.6 billion.