WEST PALM BEACH, FL (HEDGECO.NET) – Assets flowing into hedge fund of fund groups continued to grow during the first half of the year, according to the latest survey by InvestHedge. Niki Natarajan,editor of InvestHedge said, �There is no sign of any slowdown. If anything the rate of growth is accelerating amongst the bigger groups, it remains to be seen whether the recent poor returns willcatch up with the industry next year.�
According to InvestHedge, the fund of funds industry grew by 27% during the first half of 2004. Assets of the largest fund of funds managers now total about US $438 billion. The survey also said that 105 largest fund of funds managers now control about half of the total fund of funds assets.
InvestHedge also said the largest 105 fund of funds gained a total of $87 billion so far in the first six months of 2004. During the entire year of 2003, this group gained $90 billion. The largest fund of funds manager according to the new survey is GAM, which now oversees more than $23 billion of investor assets.
Man Investments is placed in the number two position as the second largest fund of funds management group, overseeing about $19.8 billion, while the third and fourth positions belong to Union Bancaire Privee and Permal, each managing $15.9 billion and $14.9 billion, respectively. The fifth position went to RMF Group according to the new survey.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: [email protected]
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