Amid rumors that the hedge fund industry is waning, new
funds raise a record amount
Securities and Exchange Commission's decision to begin
regulating hedge funds was in part an effort to deter new
managers from starting hedge funds, it seems the plan may have
backfired. Despite lackluster performance, consolidation,
scandal and an overall sense that investors are disillusioned
with hedge funds, the first half of 2005 has seen a number of
blockbuster fund launches that have landed a windfall of money,
suggesting the industry is anything but in the dumps.
So far this year, the number of large U.S. launches has
accelerated, gathering a record number of assets and setting
the bar quite high for hedge fund managers looking to launch in
the second half of the year. Already, in the first half of
2005, the biggest 72 hedge funds have raised approximately
$16.4 billion in assets, almost...