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Volatility halts growth momentum
01 June 2008
The global fund of hedge fund industry saw solid growth over 2007, the GI/ Watson Wyatt Global Alternative Survey reveals. But growth would not have looked so good if it had included first quarter 2008 numbers, finds Caspar Hoare
The survey also points to a significant concentration of assets in the larger funds. As hedge fund performance continues to drop in stricken markets, pension funds are looking for the peace of mind associated with size, and that trend is set to continue, say industry experts.
Fund of hedge fund growth is most visible when comparing the growth of assets under management (AUM) of managers, which participated in both the 2008 and 2007 survey. Forty-six fund of hedge fund managers participated in the last two consecutive surveys and grew their assets by 51%, more than any other asset class. In real estate, the largest asset class by AUM in the survey, 35 funds grew just 17%.
Fifty-seven of the 138 respondents provide fund of hedge fund solutions. Total fund of hedge fund assets amounted to $146.7 billion, 17% of the aggregate assets under management and the second largest asset class...
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