Investors raise hedge fund allocations in Sept - data

LONDON, Sept 11 (Reuters) - Investors raised their bets on hedge funds in September, although at a slower pace than in August, data showed on Friday.

The SS&C GlobeOp Capital Movement Index, which calculates monthly hedge fund subscriptions minus redemptions at the start of each month, rose 0.64 percent in September, against a 0.71 percent rise in August.

Hedge funds typically open for subscription at the start of every month or quarter.

"Comparisons for both the inflow and outflow components of the index were steady", Bill Stone, chairman and chief executive officer of SS&C Technologies (NasdaqGS: SSNC - news) , said.

"Given the ongoing turmoil in global markets, this indicates that investors are confident the hedge fund industry can deliver attractive returns in times of increased volatility," 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 David Holmes)