Hedge fund net inflows rise at fastest pace for 12 months - data

LONDON, May 12 (Reuters) - Investors raised their bets on hedge funds at the fastest pace in a year in May, data showed on Tuesday.

The SS&C GlobeOp Capital Movement Index, which calculates monthly hedge fund subscriptions minus redemptions, rose 0.92 percent in May, the fastest rate since May 2014. The index had dropped 1.2 percent in April.

Investments in hedge fund increased as "inflows easily outpaced outflows. In fact, outflows were the lowest recorded since the index's inception in 2006," said Bill Stone, chairman and chief executive officer 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.

(Reporting by Nishant Kumar; Editing by Mark Potter)