LONDON - The hedge fund industry saw a net $80 billion of outflows for the year to Oct. 18, even as it raked in net profits of about $119 billion, hedge fund specialist Aurum Funds said in a report on Wednesday, as investors looked for higher returns elsewhere.
Money flowing out of hedge funds was a sign that the industry was reaching maturity, family office investor Michael Oliver Weinberg told Reuters. Hedge fund strategies with mostly long trades betting equities would rise fared the worst with average returns of negative 2% for the year, the Aurum report said.The stock market is approaching a 'once-in-a-generation' buying opportunity as profits are about to take off almost everywhere, investment firm saysBank of Nova Scotia stock could be a major bargain in the banking scene right now. The post Canadian Bank Stocks Look Severely Undervalued: Here’s 1 With a 7.
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