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New Hedge Funds Raised Less Money in 2006: 86 Largest Funds Raised $31B

New hedge funds worldwide raised less money in 2006, on the collapse of Amaranth Advisors, which lost about $6.6 billion in two weeks, the largest hedge-fund collapse ever. 

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Some 5.1% of the Hedge Funds Shut Down Last Year

Some 5.1% of hedge funds shut down in 2006 because of dwindling trading opportunities, poor performance, career moves or other reasons, down from 5.4% closures in 2005 and a 6.2% rate in 2004, according to Hennessee Group survey.   

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New Money Flow into Hedge Funds Nearly Tripled to $126.5B in 2006  

A record $126.5 billion new money flowed into the hedge fund industry last year, nearly tripling the $46.9 billion in new money they attracted in 2005, according to Hedge Fund Research, which tracks more than 10,500 hedge funds. Hedge funds total assets under management soared 29% in 2006 to $1.4 trillion.

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Hedge Funds Drive Strong Returns at U.S. Endowments: Commonfund Benchmarks Study

The top decile U.S. endowments were almost 50% invested in “alternatives” - hedge funds, private equity, real estate, distressed debt, energy and natural resources and venture capital -, and reported returns in excess of 16.8% in 2006, according to the 2007 Commonfund Benchmarks Study of Educational Endowments.  

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Hedge Funds Finish 2006 with Best Performance 3 Years, But Fall Short of S&P

Hedge Funds
2006

Hedge funds returned 13% globally in 2006, compared with a 15.8% increase (including dividends) by the S&P 500 Index, according to to Hedge Fund Research report today. It was the biggest gain for hedge funds since the 19.6% gain in 2003. 

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Playing the Long Game in $49 trillion Global Asset Management - BCG Report

The value of global professionally managed assets — those for which a management fee is paid — grew by around 15% to $49.1 trillion in 2005, with capital inflows driven largely by growth in Europe and Asia, according to a new report by The Boston Consulting Group (BCG). 

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Global Institutional Demand for Hedge Funds to Triple to $1 Trillion by 2010

Global institutional demand for hedge funds will triple by 2010, increasing from $360 billion currently to more than $1 trillion, according to a new study of leading institutional investors, investment consultants and hedge funds released today by The Bank of New York and Casey, Quirk & Associates LLC.
  2004 2006 2010
U.S. institutional investment in hedge funds $60 Billion $300 Billion $1 Trillion

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TOP U.S. HEDGE FUND ASSETS NEAR $1 TRILLION - Billion Dollar Club Survey

The biggest U.S. hedge funds are closing in on the $1 trillion mark, with their combined assets under management hitting $984 billion on July 1, according to the latest semi-annual survey (pdf) published by Absolute Return magazine, a unit of HedgeFund Intelligence.

  • Combined assets of firms with over $1 billion reach $984B

  • 218 US hedge fund firms have over $1 billion under management

  • Top 20 firms control a third of the assets

  • 65 firms manage $5 billion or more

Assets of the 218 hedge fund companies with more than $1 billion under management, known as the Absolute Return Billion Dollar Club, gained on average 15% since the beginning of the year, despite a rocky performance for many hedge funds in May and  June.

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The golden age of hedge funds - best paid fund manager earns $1.5B in 2005

When it comes to pure wealth creation — arguably the biggest motivation for the majority of hedge fund managers — times have never been better. Thanks to the power of hedge fund math, driven by management fees and performance incentives, more managers are making more money today than ever before, as evidenced by  Institutional Investor's Alpha magazine

This time there are two who break the billion-dollar barrier: James Simons of Renaissance Technologies Corp. and BP Capital Management’s T. Boone Pickens. In 2005 math whiz Simons earned a staggering $1.5 billion and oil tycoon Pickens took home an equally astounding $1.4 billion. Rounding out the top five are three longtime managers: Soros Fund Management’s George Soros, $840 million; SAC Capital AdvisorsSteven Cohen, $550 million; and Tudor Investment Corp.’s Paul Tudor Jones II, $500 million.

The cost of admission keeps going up. A manager had to earn at least $130 million in 2005 to qualify for a place among the top 25 money earners, compared with $100 million in last year’s survey and just $30 million in 2001 and 2002. The 26 managers on the list made, on average, $363 million in 2005, a 45 percent jump from the $251 million the top 25 earned in 2004. The median earnings also grew, jumping by a third, from $153 million in 2004 to $205 million last year.

 

 

Assets in Asia Pacific Hedge Funds Doubled to Over $100 Billion in 2005

$115 Billion

Assets under management of Asia Pacific invested or located hedge funds almost doubled from about $60 billion to nearly $115 billion in 2005, according to AsiaHedge of HedgeFund Intelligence. 
  • Australia, with assets of $27 billion, is the most broadly based hedge fund center in the region
  • Japan comes next with more than $22 billion AUM

  • Assets under management of Asia-Pacific invested hedge funds managed from the United States shot up from $10 billion to $26 billion in 2005

  • The numbers of funds increased to 700, up strongly from 550 in 2004


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