By Hannah Walsh
Absolute return UCITS fund launches are down but they are pulling in more assets, according to Absolute UCITS new fund survey for the first half of 2011.
Assets raised in the first half of this year increased to more than $3 billion and 58 new funds were launched.
This compares to the second half of last year when 63 funds were launched with assets under management of $2.6 billion.
The most prominent new arrivals came from established institutional firms, including JP Morgan Highbridge, Pioneer, BNY Mellon and GLG.
The survey found that there were 18 funds launched using so-called clone strategies. This is when a hedge fund that was previously available only in an...