Inflows continue despite unimpressive third quarter

Hedge funds performance in the third quarter of 2006 was less than spectacular, but inflows continued at a rapid pace. More than $44.5bn in new assets flowed into the hedge fund industry in the third quarter of 2006, with relative value arbitrage, equity hedge, and event-driven accounting for more than half of the total, according to data released today by Hedge Fund Research (HFR), a source of hedge fund information and performance data. This was the second consecutive quarter of record fund flows since HFR began tracking quarterly flow data in 2003. Total industry assets stood at $1.34...