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ZURICH, June 9 (Reuters) – Hedge fund outflows of $116 billion in the first quarter of 2009 were the second highest since 1994, Lipper data show, yet hedgies may yet receive a boost from some pension funds before the end of the year. Aureliano Gentilini, Lipper’s global head of hedge fund research, said on Tuesday he expected hedge fund outflows to taper off in the second quarter and that inflows could return in the third as investor confidence returns.
"Although down 21 percent from the fourth quarter of 2008, outflows were high, but partly because withdrawal restrictions imposed in the fourth quarter were lifted in Q1 of 2009," said Gentilini.
Gentilini also said that, in spite of having their worst ever year in 2008, hedge funds were seeing renewed interest from larger institutions as the dust from the financial crisis settles. Lipper is a Thomson Reuters research firm.
Given the string of problems created by hedge funds, derivatives, investment funds, insurance companies, pension funds, mortgage securities and hairy bank loans over these few years, it is becoming increasingly apparent that high flying investment managers and financial whiz kids are not as great as they seem in spite of their insistence in paying themselves billion dollar bonuses.
As if these were not enough, Gordon Brown the architect of the British economic miracle of the Blair years is now thinking of printing money – ₤150 billion worth. This sort of makes him roughly equivalent in competence to the whole Japanese Occupation Government in Malaya from 1942 – 1945.
Economic Times - Gold, the traditional safe haven in times of economic turmoil, proved to be more a commodity that everyone loved to hate last year even amid the turbulence that engulfed world markets.
But as 2009 gets under way the yellow metal has found huge traction with money managers. In the last eight sessions, gold has rallied as much as $100 an ounce to hit a near four-month high of $915.30 on Monday — in spite of a rising dollar.
