Demand for hedge funds crept upwards in May, according to the Barclay Fund Flow Indicator, as equity markets rebounded and the US economy improved. Industry assets remained at an all-time high of USD3.0 trillion. Data drawn from more than 5,000 hedge funds in the BarclayHedge database estimated that the hedge fund industry (excluding CTAs) took in USD4.0 billion (0.1 per cent of assets) in May, reversing USD1.9 billion in redemptions the month before.