Tuesday, 26 May 2015
Last updated 41 min ago
Oct 12 2011 | 6:42am ET
Undaunted by poor returns, hedge fund investors have pushed the industry's assets to their 2006 levels.
Hedge funds managed $2.16 trillion at the end of the first half, up 6.7% from the beginning of the year, according to HedgeFund Intelligence. Most of the growth came in the biggest hedge funds, those managing more than $1 billion, which added $150 billion in assets and now manage $1.85 trillion. The largest 345 firms account for 82% of total industry assets.
It wasn't just the biggest firms that grew, it was the biggest hedge fund centers. Assets grew in the U.S., which accounts for almost three-quarters of global hedge fund assets, as well as in Europe, but fell 5% in Asia.
The growth puts hedge funds back where they were in 2006. But they still have a ways to go to reach their $2.6 trillion historic high, hit in 2007 prior to the financial crisis.
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…