By Amal Robleh
Despite widespread, if shallow, performance losses, the 241
largest hedge fund firms in the Americas-those managing $1
billion or more-increased their assets by 2.96% in 2011, to
$1.335 trillion, according to AR's biannual Billion
Dollar Club survey.
More than 40% of the Billion Dollar Club firms lost assets
in 2011, with the majority of the drop occurring in the second
half of the year, which reversed a 7.86% asset gain in the
first half. The AR Composite Index was up 2.05% through midyear
2011, but ended the year down 0.47%-its first annual loss since
2008. The past year's 2.96% asset gain is the most tepid on
record, falling beneath the 4.23% increase in 2009. The
greatest annual growth for the Billion Dollar Club was in 2006,
when assets increased by 40.8%.
Bridgewater Associates retained its...