Belfast Telegraph – More money than God. That’s one of the colourful descriptions of hedge fund managers and the title of a fine history of the industry by Sebastian Mallaby.
Leaving aside the Almighty’s personal finances, it’s certainly true that hedge funds have more money from investors than ever before. Figures from Hedge Fund Research last month showed $15.2bn of net new capital flowed in during the first quarter of this year. Total funds under management have hit $2.375trn, up fourfold since the turn of the millennium.