Saturday, 25 April 2015
Last updated 1 day ago
Dec 7 2007 | 12:09pm ET
Amid this year’s market turmoil funds of hedge funds apparently seem a better bet to investors than single-manager offerings. Investors yanked $2.8 billion in direct hedge fund investments in October while pouring $18.8 billion into funds of hedge funds.
The flows, reported yesterday by TrimTabs Investment Research and BarclayHedge, came during the best month for hedge funds in years.
“The hedge fund industry’s 3.5% return in October was the highest in the past seven years,” BarclayHedge’s Sol Waksman said. “Nevertheless, recent market turmoil has made investors a bit more cautious about investing in hedge funds.” And, of course, the numbers don’t take into account the major dive suffered by most hedge funds last month.
Fixed-income hedge funds faced the biggest redemptions, as investors fled with about $2.2 billion. On the other hand, what new money that did enter single-manager funds went the right place: Equity-market neutral funds added $3.7 billion in October. The strategy was among the few—if not the only—to post a positive return last month.
Overall, hedge funds and funds of hedge funds have added $279 billion in assets this year, a record.
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…