Wednesday, 27 May 2015
Last updated 6 hours ago
May 12 2008 | 10:09am ET
Spooked investors slowed their hedge fund investments in March and turned in greater numbers to funds of hedge funds.
The industry saw inflows of $16.3 billion in March, according to BarclayHedge and TrimTabs Investment Research, down slightly from February’s $17.5 billion inflow—itself down $4 billion from earlier estimates of hedge fund inflows. All told, hedge funds added $41.2 billion in the first quarter, down 42% from the first quarter of 2007.
Investors added $4.2 billion to single-manager funds in March, just a quarter of the total industry inflows. In February, single-manager funds accounted for almost 40% of the month’s inflow.
What’s more, things are unlikely to have improved last month, despite improved returns for the industry, according to Sol Waksman, BarclayHedge CEO.
“Inflows into hedge funds probably remained weak in April,” he said. “Extreme market volatility and March’s poor hedge fund performance will probably deter investors from putting lots of money to work in hedge funds.”
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…