Sunday, 19 April 2015
Last updated 2 hours ago
Aug 19 2009 | 2:40am ET
Hedge funds have had their best-ever first seven months, and investors have rewarded them by returning to the asset class.
The industry took in some $2.1 billion in new money last month, according to Eurekahedge, its third straight month of net inflows. Hedge funds, which returned 2.2% on average on the month, also made $8.5 billion in the markets in July. The industry now manages $1.35 trillion after its third-straight monthly increase in assets.
Investors poured $15 billion into hedge funds last month, while redeeming only $12.9 billion.
The turnaround is also beginning to show itself in the number of hedge funds running, with Eureka predicting that the gap between funds closing and those launching will narrow this quarter. But the difficult fundraising environment means it will be some time—mid-2010, Eureka says—before the new funds make a dent in overall industry assets.
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…