Funds of hedge funds

Wed Oct 22, 2008



The ripple effect of last summer's credit crunch has taken its toll on the fund of hedge funds world, with more than a third of the firms seeing net outflows.

And, although the six-month fund of hedge funds asset growth survey for the year ending 30 June 2008 shows that the largest funds of funds, with $1 billion or more under management, have seen growth of 4.55%, the forecast for the full year’s growth is drastically bleaker, and likely to show net outflows for the first time since the survey started.

The fall-out from the deleveraging is starting to take its toll on the fund of funds universe. The costs of exposure to Anthracite and Petter Worldwide are still unclear, but this will adversely impact the assets under management in the broader fund of funds industry. If both of these issues are not resolved, then billions of...

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