On Wall Street – Assets held in hedge funds grew 4.41% during the second quarter, to $2.973 trillion, according to data released Monday.

HedgeFund.net reported in its survey of hedge administrators that investors allocated $34.21 billion to hedge funds in the quarter and performance gains added $91.28 billion of asset value.

The dollar amount of fund liquidations during the quarter was larger than that of fund launchings by an estimated $8.52 billion; this was the third-highest level of fund closures on record.

Despite liquidations, large funds appear to have attracted enough capital to expand the industry overall at an organic growth rate of 11.06% from a year earlier.

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