Investors are optimistic about the hedge fund industry, according to a new asset flows report from eVestment.
Data from the Atlanta-based investment database and technology solutions firm’s October 2013 Hedge Fund Asset Flows report estimated that investors allocated approximately $9.3 billion to the industry that period—making October the fourth consecutive month of strong inflows. Performance gains during the month increased assets under management by another $47.6 million. Comparatively, about $19.95 billion in assets were added to the industry in September.
Equity hedge funds attributed to nearly $4.3 billion of October’s inflows—the most popular strategy that month. On the flipside, equity hedge funds, which are the second most popular strategy for investors, brought in $1.15 billion to the industry in the same period despite reeling in an impressive $21.2 billion in the last three months.
While inflows have increased generously across the industry in the last few months, commodities continue to suffer. The strategy lost approximately $1.15 billion last month, and added $900 million to the industry in the last three months—a minuscule portion of the nearly $50.1 billion the entire industry raked in during the same period.
Despite the minor setback, the industry’s current $2.802 trillion in assets under management is nearing its all-time pre-financial crisis peak.
Founded in 2000, eVestment acquired hedge fund analysis provider Pertrac and cloud-based hedge fund technology provider Fundspire last year. It now offers one of the world’s largest traditional and alternative investment databases.