Tuesday, 21 October 2014
Last updated 10 hours ago
Jan 19 2006 | 7:41pm ET
A record number of hedge funds closed up shop in the first three-quarters of last year, but as 484 exited the market, more than three times as many opened their doors, according to Chicago based Hedge Fund Research.
The report estimates there were 1,580 launches through the end of September, up 174 from the prior year. HFR reports that the 5.7% of hedge funds that closed down surpasses the previous high of 5.5% in 2002.
In 2004, 3.6% of hedge funds closed. Meanwhile, according to various industry estimates, hedge funds returned less than 7% on average last year, compared with around 9.5% in 2004 and more than 15% in 2003.
HFR estimates that there are now around 8,500 hedge funds globally managing over $1 trillion in assets. Analysts expect that number to double to $2 trillion within five years. Hedge fund openings in 2002 and 2003 stood at 1,222 and 1,156, respectively.
The report also found that hedge funds earned $16 billion in fees last year, a new record.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...