Geneva Funds See Inflows for First Time Since Madoff

Bloomberg – Geneva’s funds of hedge funds saw client inflows for the first time in 11 months in August, halting a slump that accelerated after losses related to Bernard Madoff’s Ponzi scheme.

Net inflows were $30 million, after withdrawals of $2 billion in July, according to data compiled for Bloomberg News by Singapore-based Eurekahedge Pte. Total assets in Geneva-based funds of hedge funds climbed almost 1 percent to $14.3 billion, after slumping 74 percent during the previous 19 months.

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