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Swiss funds of hedge funds saw 3% increase in assets through fresh inflows in Q1-2011

Wednesday, May 25, 2011
Opalesque Industry Update - The market for funds of hedge funds is getting back on its feet while the sector is restructuring, declared Richard T. Meier, head of research for the Centre Alternative Investments & Risk Management at Zurich University of Applied Sciences (ZHAW), during a press briefing yesterday.

According to Swiss daily Le Temps today, he said that as the hedge fund industry as a whole now manages around $2tln, with around 7,000 single hedge funds and 2,000 funds of hedge funds (FoHFs), hedge funds have substantially increased their assets under management (AuM) while FoHFs’ have remained stable. In terms of AuM, FoHFs represented 34% of the total at the end of 2010 (compared to 46% in 2006). The Swiss FoHFs industry manages 30% of that ($200bn).

During the first quarter of 2011, there was a slight increase of AuM for Swiss FoHFs through fresh inflows by about 3%.

The investor base has changed dramatically, noted Le Temps, as private investors make up for only 24% of all investors, compared to 54% in 2000. Institutions have taken over.

The number of Swiss-registered FoHFs went from 305 in 2008, to 224 in 2009 and 181 in 2010. But funds for qualified investors (offshore) went up by 41% last year to 194. In total, the number of active FoHFs reached 382, a rise of 3% in 2010, but a fall of 22% since 2008, Meier said.

It was also found that the best, the biggest and the oldest funds now make up most of the industry.

The performance of Swiss FoHFs went up to 4.7% in 2010 (in US$), Le Temps reported. Meanwhile, the hedgegate Swiss FoHF Index (US$) was up 0.10% in March 2011 and 0.59% YTD, and the HFRI Fund of Funds Composite Index was up 1.26% in April and 2.11% YTD (5.48% last 12 months).
B. Gravrand


14 June 2011: here is the report produced by Zhaw in collaboration with Banque Privée Edmond de Rothschild
"Swiss Funds of Hedge Funds: Structure, Evolution and Performance", May 2011: Source


See last month’s related article:
Opalesque Exclusive: Swiss funds of hedge funds index down 0.23% in January, AuM stays above $12bn mark Source

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