By Niki Natarajan
Please click here for the Billion Dollar
The Mayan Long Calendar may be set to finish on 21 December
2012, but few actually believe that such doomsday prophesies
will actually see the world end. Change yes, but end no.
Despite the much maligned second layer of fees, it seems that
funds of hedge funds on average are down -4.26% net of all
fees, according to the InvestHedge global FoHF Composite.
On the surface, the overall picture for the global funds of
hedge fund industry, as represented by the largest players with
more than $1 billion in assets, in 2011 seems to be gloomy.
There has technically been an outflow of assets of $4.6 billion
but compared to the year's performance, it is clear that
overall assets are still flowing in, albeit more selectively by
firm, region and size of firm.
A year ago...