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Bailey McCann, Opalesque New York:
Seward & Kissel, the US-based law firm that helped create the first hedge fund over 60 years ago, has made its first study of New Hedge Funds in the U.S. The Seward & Kissel 2011 New Hedge Fund Study, takes a look at newly launched hedge funds sponsored by U.S. based managers entering the market for the first time in 2011. I spoke with Steven Nadel, partner in the Investment Management group, about the study and its findings.
According to the study, half of the new US hedge funds created in 2011 had an equity or equity-related investment strategy, with about a third of those focused solely on US equities. "Certain industries like financial services that got hammered in 2008 now look like buying opportunities for some managers," Nadel says. "Other industries in the US like health care are also providing opportunities."
Of the remainder, 20% were multi-strategy offerings, approximately 10% were credit or credit-related strategies, and the balance consisted of structured products, managed futures, and commodities.
Fees are also back up to around 2% for new funds, according to the study. Fees had dropped below 2% in the aftermath of the financial crisis after investors questioned the cost versus performance. According to Nadel, "fees are going up bec...................... To view our full article Click here
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