Report: Hedge Funds Running Neck-To-Neck With S&P 500

As noted earlier by a previous study, hedge fund assets keep rising and investors keep putting more new money into managers’ hands.
As long as returns are relatively positive, that’s likely to be the case for awhile longer.
In October, the trend we’ve been seeing of improving hedge fund performance continued. As a whole, hedge funds gained 2% in the month, according to the Barclay Hedge Fund Index compiled by BarclayHedge.
After back-to-back gains in the past two months, the index this year was up 7.24% — nearly matching the 7.84% return of the S&P 500 benchmark.
Maybe the smart money is not in the flows described above but among the  bifg flows into etfs.shown in the graph at the top of the page.