(Reuters) The exclusive club of Americas-based hedge funds managing more than $1 billion in assets shrunk a bit in 2015 after market gyrations in the second half of the year took a bite out of returns and prompted some investors to pull money, data released on Wednesday show.
Numbers compiled by industry news and data provider Hedge Fund Intelligence show that 312 North and South American-based hedge funds – mostly in the United States – ranked in the Billion Dollar Club at the start of 2016, down from 316 at the start of 2015 and 314 in July 2015.