Hedge funds have $100 billion less to play with after October, one hedge fund index shows.
Investors pulled about $60 billion from hedge funds last month, according to Eurekahedge.
The outflows were compounded by $40 billion in investment losses amidst the market turmoil.
The Eurekahedge Hedge Fund Index shed 3.3% in October—one of the more optimistic estimates for one of the worst months in the history of the hedge fund industry—leaving hedge funds with some $1.7 trillion in assets, worldwide. On the year, Eurekahedge estimates that hedge fund have lost 11%.
At its peak last year, Eurekahedge estimates that hedge funds managed about $2 trillion.