Nick Evans, editor, EuroHedge
Last year was by no means a vintage year for European hedge funds. But the industry’s recovery is gaining strength fast and the stage looks set for continued growth and revival in 2011.
Performance was generally satisfactory in what turned out to be a tough and volatile year – exceptional in a few cases, mediocre in many and fairly unexciting for the most part. Asset-raising was still a struggle for all but a few – with the concentration of assets by risk-averse investors into the brand-name managers creating an increasingly bifurcated situation whereby a handful of top funds were able to close again while the vast majority of smaller operations found capital inflows very hard to come by, irrespective of performance.
And the macro outlook continued to offer no shortage of causes for concern,...