FoHF 40 Act assets hit $20bn despite negative performance
Wed Dec 5, 2012
Investors embrace RICs as ‘retail’ asset-gathering wave continues to gain momentum
For the table of SEC-registered FoHFs ranked by master fund
launch date, please click here
As funds of hedge funds continue to be treated as social
pariahs in the institutional arena, retail distribution
channels and brand-name mutual fund players in the US continue
to embrace FoHFs registered with the SEC under the 1940 Act as
a vehicle of choice to raise assets now at $20 billion -
despite average returns of the RIC universe of -1.93% for the
reporting year ending 31 March 2012.
By Niki Natarajan
Classic mutual fund players such as Legg Mason and New York
Life's MainStay Investments have teamed up with FoHF experts to
tap into the hedge fund allocation skillset. New York Life took
a stake in Private Advisors in 2010 (InvestHedge, October
2012), while Legg Mason bought Permal in 2005 allowing both
FoHFs to explore both the RIC and UCITS retail channels....
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