The Eurekahedge Report -October 2011

Hedge funds outperformed global equity markets yet again in September (-2.69% vs. -9.98% for the MSCI AC World Index) as managers focused on hedging strategies and short-term directional trades. All regional mandates finished the month with losses but fixed income and Latin American hedge funds are still in positive territory YTD. Managers lost more than US$37 billion in total assets through the month as investors accounted for US$20.98 billion of net outflows. Hedge funds now oversee US$1.76 trillion of capital - the lowest figure since March 2011.

Highlights of hedge fund performance and asset flows for the month are as follows:

September 2011	US$ billion
Allocation (Inflows)	7.58
Redemption (Outflows)	-28.56
Net Asset Flows	-20.98
Positive Performance (Growth)	12.08
Negative Performance (Decline)	-28.57
Total	-16.49
Overall Total	-37.47

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