Wednesday, 6 May 2015
Last updated 1 hour ago
Jun 11 2008 | 11:25am ET
Too little, too late: Hedge funds rebounded in April, but investors still fled the asset class in the biggest outflow the industry has suffered in more than six years.
Investors yanked $5.9 billion from U.S. hedge funds in April, according to new data from TrimTabs Investment Research and BarclayHedge. The outflow was the industry’s first since December 2005, and the biggest since October 2001.
Investors punished single-manager funds especially, pulling $9.4 billion. Funds of hedge funds, for their part, won $3.5 billion in new money.
“April’s outflow from hedge funds was not surprising because hedge funds underperformed the S&P 500 in both March and April,” Sol Waksman, CEO of BarclayHedge, said. “Market volatility and weak inflows into funds of hedge funds suggest hedge fund flows were also depressed in May.”
Hedge funds took in $41.2 billion in new money in the first quarter.
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…