Reuters- Hedge feeder fund BH Global said on Friday it has raised $1 billion (500 million pounds) from a placing with investors, double its initial target of $500 million, which will make it one of the UK’s biggest listed funds.

The fundraising highlights the demand that exists for certain hedge strategies, despite the poor returns from many funds in the industry this year, and trumps that by fund of hedge funds Dexion Absolute which in December raised an above-target $950 million.

"We are pleasantly surprised by the extent of the response," BH Global chairman Lord Turnbull told Reuters.

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