| Hedge Fund Observer: European managers leading the fund of hedge funds pack |
|
|
| 17/09/2006 | |||||||||||||||||||||||||||
|
In the highly concentrated fund of hedge funds business, European fund of hedge fund managers are leading the pack. According to the InvestHedge Billion Dollar Club survey, there are now 135 managers controlling over $1bn in assets, totalling $720bn globally, up 16% in the first six months of the year. The top 20 funds control more than $10 billion in assets and oversee 51% of the total, worth $374bn. Man Group, with $39.8 billion, remains the largest fund of hedge funds business in the world, including its separately managed Glenwood Capital Investments and RMF units. InvestHedge also reports that European funds of hedge funds, with 55 representatives in the ranking, now run more assets than their American counterparts. The European funds grew by more than 21% to $380bn in the first half of 2006, after strong inflows to Swiss fund managers, which make the bulk of European managers. North American fund of hedge fund groups reported a growth rate of 11% in the first half of 2006. In spite of volatile markets, fund of hedge funds managed to collect more than $100bn in the first half, which compares favourably with the $72 billion that were added in 2005 for the whole Billion Dollar Club. "So far this year the volatility in May and June has shaken a few cobwebs and effectively spring-cleaned the industry. Despite the performance losses in those months, only 10 firms showed net asset outflows and the rest of the industry, particularly the larger firms, have seen a return to healthy asset growth," said Niki Natarajan, editor of InvestHedge. "Most of the major fund of funds are very optimistic about the future, but realize that product and strategy innovation, as well as performance preservation, are needed for the industry to continue growing at the current rate." Largest fund of hedge fund managers – global assets under management
J.L. |
|||||||||||||||||||||||||||
© Copyright 2008 bfinance. This document is for your personal non-commercial use. Any further copying, reproduction, distribution is strictly prohibited. To obtain permission please contact This e-mail address is being protected from spam bots, you need JavaScript enabled to view it