Tuesday, 28 April 2015
Last updated 14 hours ago
Dec 10 2010 | 12:22am ET
Funds of hedge funds grew over the past six months—but it’s not exactly cause for celebration.
Multi-manager funds recouped the assets they lost in the in the prior six months, according to HFMWeek’s assets under administration survey. The last six months have seen a 2% increase in fund of funds assets to $1.065 trillion, matching the 2% decline in the previous iteration of the biannual survey.
Unfortunately for the industry, the numbers are not a sign that investors are returning to funds of funds, but merely that the underlying funds are doing well, creating performance-based gains.
“We think the FoHF will continue to grow at 2% to 5% per annum, driven from Europe and the U.S.,” BNP Paribas head of alternative funds product management Chris Adams told HFMWeek. “Against this growth rate we expect continued consolidation to take place across managers, with the largest groups attracting an ever greater proportion of inflows.”
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…