Monday, 30 November 2015
Last updated 2 days 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…