Saturday, 25 April 2015
Last updated 1 day ago
Dec 13 2013 | 12:09pm ET
Investors pulled more than $2 billion from hedge funds in October, just a month after adding twice as much to the industry.
October's net outflow totaled $2.2 billion, according to BarclayHedge and TrimTabs Investment Research. In September, investors had added a net $4.4 billion. Funds of hedge funds suffered a further $1.2 billion in outflows in October, continuing what BarclayHedge chief Sol Waksman called a "relentless" trend, with outflows in 22 of the last 24 months.
Hedge funds generally have done better.
“The outflow in October was only the second for hedge funds this year,” Waksman said. “Hedge funds have taken in $49.4 billion so far in 2013, a sharp reversal from the $12.9 billion outflow in the same period last year.”
“Industry assets stood at a five-year high of $2.0 trillion, according to estimates based on data from 3,348 funds. Assets are up 15.3% in 2013 but are down 16.1% from the all-time peak of $2.4 trillion in June 2008,” Waksman said.
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…