LONDON (Reuters) - Investor interest in hedge funds rose in August as they added more cash than they redeemed, even as performance dipped during July, data showed on Tuesday.
The SS&C GlobeOp Capital Movement Index, which calculates monthly hedge fund subscriptions minus redemptions, rose 0.62 percent in August to 149.05 points.
The index compiled by the fund administrator is based on data provided by its clients and represents about 10 percent of assets invested in the hedge fund sector globally, or about $300 billion.
“Net flows returned to positive territory for August, with both subscriptions and redemptions at lower levels than July,” said Bill Stone, chairman and CEO of SS&C Technologies.
Hedge funds returns, as measured by the SS&C GlobeOp Hedge Fund Performance Index, fell 0.37 percent in July, the data showed.
Reporting by Nishant Kumar; editing by David Clarke