Hedge Funds Sizzle, but Where's the Beef?

This from MarketWatch:

Hedge funds pulled in $44.5 billion during the third quarter, the most money that's flowed into the industry during any quarter since at least 2003, Hedge Fund Research, which tracks assets and performance in the industry, said on Thursday. Hedge funds now oversee $1.34 trillion in assets, HFR added. Investors have put more than $110 billion into hedge funds so far this year, more than twice the amount put into the industry during the whole of 2005, the research firm noted. "While quarterly performance was again less than spectacular, the flow of new assets into the industry remained remarkably strong," Josh Rosenberg, president of Hedge Fund Research, said in a statement. "

This from Pensions & Investments:

Major hedge fund indexes landed in positive territory for the nine months ended Sept. 30, although none beat the 8.5% return of the S&P 500 . . . .

Average hedge-fund gain for the third quarter: 1%.