Hedge fund inflows hit 15-month high - data

LONDON, Aug 13 (Reuters) - Investors raised their bets on hedge funds at the fastest pace for 15 months in August, new data showed.

The SS&C GlobeOp Capital Movement Index, which calculates monthly hedge fund subscriptions minus redemptions at the start of each month, rose 0.92 percent in August, the fastest rate since a 0.98 percent rise in May 2014.

The inflows came after investors cut their bets at the fastest pace for six months in July.

"Adjusting for seasonality, the gain in the index was driven by lower outflows combined with steady inflows," Bill Stone, chairman and chief executive officer of SS&C Technologies (NasdaqGS: SSNC - news) , said.

"This indicates that investors are increasing their allocations to hedge funds as markets in the U.S (Other OTC: UBGXF - news) . and abroad are producing uneven returns, including significant upheaval in China and Greece," he added.

The index compiled by the fund administrator is based on data provided by its clients, and represents about 10 percent of assets invested in the hedge fund sector globally. (Reporting by Nishant Kumar; editing by Simon Jessop)