Friday, 27 March 2015
Last updated 1 hour ago
Nov 13 2008 | 12:23pm ET
Hedge funds coffers were a little lighter last quarter thanks to negative performance, huge redemptions and forced liquidations.
According to HedgeFund.net, total assets in single manager funds fell 16% in the third quarter to $2.497 trillion. Performance losses accounted for $347.5 billion of the missing assets, while investor redemptions and liquidations accounted for an additional $128 billion. Investor redemptions alone accounted for an estimated $117.3 billion outflow, by far the largest on record.
Specifically, corporate bond strategies dropped an estimated $294.6 billion last quarter; long/short equity hedge fund assets fell an estimated $147.8 billion, emerging markets-dedicated hedge fund assets fell an estimated $84.3 billion and distressed investing strategies saw total assets fall an estimated $62.8 billion. Through the first three quarters of 2008, investors have actually added an estimated $11 billion more than they have withdrawn from distressed investing hedge fund strategies.
Fund of hedge funds also experienced a contraction in third quarter 2008, dropping $134.5 billion in performance losses, $75.7 billion in investor redemptions and $4.3 billion in net liquidations. All told, total funds of funds assets fell 14.9% to an estimated $1.224 trillion, the first ever-quarterly reduction in funds of funds FoF assets on record.
Early October estimates show the HFN Hedge Fund Aggregate Average, an equal-weighted benchmark of all single-manager hedge funds and managed futures products in the HedgeFund.net database, was down 3.85% in October and down 12.44% YTD.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…