New York (HedgeCo.net) – Quarterly asset total increased by more than 6.5 percent as hedge fund investors raised exposure to emerging Asia and Russia, industry tracker Hedge Fund Research (HFR) said in a statement.
Pharos Russia Funds said that, “The major strength was found in the ruble which gained 4% against the dollar during the month as oil remained strong. We continue to see the Russian market as trading at the low end of its valuation range relative to the broader emerging markets. We expect to see a bounce in both relative valuations and economic growth after the 2008 crisis as Russia continues to find its way forward.”
“The record level of assets invested in emerging market hedge funds represents the latest evidence that global investors continue to exhibit a preference for accessing specialised emerging markets exposure via hedge funds,” said HFR President Kenneth Heinz.
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