Billion Dollar Club: Churning waters rock largest hedge funds

By Rob Copeland

Mon Mar 11, 2013

Some 269 Americas firms manage $1.46 trillion.

An increasingly precarious environment for Americas hedge funds is creating clear winners and losers among the biggest firms, according to the bi-annual Absolute Return Billion Dollar Club rankings.

As a group, the Club remains awash in cash. Some 269 firms--nearly the same total, if not composition, as six months earlier--managed $1.46 trillion in hedge fund assets as of the start of the year. That's a 2.94% increase from the July figure, and a solid 9.30% boost from the start of 2012.

For the top 50 by size, times are even better. They grew 6.18% during the past six months, and 11.29% during the past twelve.

But beneath the surface lies a swelling churn. Some 17 firms dropped below the all-important $1 billion mark in the latest six-month period, the most casualties since January 2009 during the heart of the financial crisis. Those fallen funds (some...


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