Hedge funds lost money in September, according to SS&C Technologies, with the gross return of the S&C GlobeOp Hedge Fund Performance Index measuring -0.24% for the month. Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index declined 0.98% in October.

"SS&C GlobeOp's Capital Movement Index for October 2023 was -0.98%, which was consistent with seasonal asset allocation and portfolio rebalancing patterns," said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. "Persistent economic uncertainty coupled with increasing global turbulence fosters a favorable environment for hedge funds, which can provide a safe haven for investors seeking refuge from elevated market volatility."

The SS&C GlobeOp Hedge Fund Performance Index is an asset-weighted, independent monthly window on hedge fund performance. The SS&C GlobeOp Capital Movement Index meanwhile, represents the monthly net of hedge fund subscriptions and redemptions administered by SS&C GlobeOp on the SS&C GlobeOp platform.