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Investors cut hedge fund bets in October - data

LONDON, Oct 10 (Reuters) - Hedge fund investors pulled out more cash than they invested in October, part of their quarter-end portfolio adjustments, data showed on Friday.

The SS&C GlobeOp Capital Movement Index, which calculates monthly hedge fund subscriptions minus redemptions, fell 1 percent in October to 148.58 points. That compares with a rise of 0.6 percent in September.

"Net flows were negative for the month, representing typical quarter-end rebalancing," said Bill Stone, chairman and CEO of SS&C Technologies (NasdaqGS: SSNC - news) .

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.

Hedge funds returns, as measured by the SS&C GlobeOp Hedge Fund Performance Index, stood at 0.24 percent in September, the data showed. (Reporting by Nishant Kumar; Editing by David Holmes)