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New Managers September 2012

Perspectives - Recent views and findings of interest to new hedge fund managers

PerTrac: most of H1 gains came from small or start-up funds, but most inflows went to billion-dollar club

The total, reported amount invested within the hedge fund industry, including funds of hedge funds and CTAs, climbed to $2.317 trillion in the first six months of 2012, according to PerTrac, the database provider. The total number of all funds reporting to databases also jumped by 4.61% to 14,013, led by single-manager hedge funds, whose ranks swelled 7.46% to 10,754 funds.

Most of the gains in the number of single-manager hedge funds (75%) came from small and start-up funds with less than $25 million in AuM.

Even if the gains came from small funds and start-ups, investors who allocated to alternatives in 2012 favored the largest funds, PerTrac notes. The "billion dollar club" of single-manager hedge funds, those that oversee more than $1 billion, saw AuM increase to $1.146 trillion from $1.08 trillion at the end of 2011. The billion-dollar-plus funds represented 60% of all assets invested with single-manager hedge funds at the end of H1-2012.

FRM: strategies are important criteria for seeders

During the recent Opalesque Roundtable in London, participant Blaine Tomlinson, founder of fund of funds group Financial Risk Management (FRM) commented on the firm's recent acquisition by Man Group, the future for funds of funds and the development of FRM's seeding business, which has been running since 2007.

It is important to be very selective in terms of the strategies, he commented. "Do we think a part......................

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This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.
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