Dec 26, 2007 -- /prbuzz/ --Net inflows for hedge funds in the third quarter hit $41.1 billion, new data has revealed.
The influx of new investment took assets under management by hedge funds to $1.73 trillion, according to figures from financial research firm Lipper.
The funds attracting the most investment were event-driven hedge funds which took in $15.5 billion, which helped push investment levels in the sector to hit their third highest rate in any quarter since Lipper began its database in January 1994.
Long/short equity and multi-strategy funds also performed well and helped to outweigh outflows of $5.1 billion from fixed-income arbitrage vehicles.
A statement from Lipper, which is a division of the Reuters news agency, said: "Growth came from ongoing institutional allocation in a period of heightened volatility across many asset classes."
The inflows brought the total investment attracted by hedge funds in the first three quarters of the year to $101.1 billion.
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