Institutional and high net worth money has been pouring back into hedge funds. According to Hedge Fund Research, which collects data directly from over 2,000 fund managers, hedge funds attracted $23 billion of net new capital in the third quarter of 2013 for a fifth consecutive quarterly record. All told, hedge funds manage $2.5 trillion, according to HFR, compared to the $14.6 trillion mutual fund industry.
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