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From Precy Dumlao, Opalesque Asia:
GLG Partners Inc., one of the UK’s largest hedge fund house (which is also U.S.-listed), has reported that its assets rose to $22.2bn as of the end of Dec-09, up 2.5% from Q3-09, and up 47.4% compared to a year ago.
In its quarterly and full-year financial report issued yesterday, GLG said the rise in assets was partly due to the estimated $723m inflows recorded in Q4-09. Total inflows for the full year was $3.2bn, including the $2.6bn of incremental net AUM acquired with SGAM UK during Q2-09 and net inflows into GLG's long-only strategies.
GLG Partners indeed acquired Societe Generale Asset Management UK (SGAM UK) in April-09.
Noam Gottesman, chairman and co-CEO of GLG said: "We delivered strong performance for our investing clients, achieving dollar-weighted average returns of 28% across our alternative strategies while our long only assets returned more than 29%, significantly ahead of the relevant benchmarks.
“We strengthened our extensive multi-strategy platform in terms of product breadth and distribution and not only retained but also added to our base of key investment professionals despite 2009 being a transitional year for the industry. Encouragingly, AUM flows at GLG have turned definitively positive over the past six months and looking forward, I am confident that GL...................... To view our full article Click here
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