Asset growth stagnates, with the largest 268 firms up just 4.34% in the first half. Harbinger replaces Avenue in Top 10; JPMorgan retains top spot.
By Josh Friedlander
More than 35% of the largest U.S. hedge funds lost assets in the first half of the year, making the industry's 4.34% growth rate the lowest sixth-month gain on record. Impressive fundraising from some firms buoyed the total, as beneficiaries from the credit collapse continued to grow.
The Billion Dollar Club, Absolute Return's biannual survey of U.S. hedge fund assets, now includes 268 firms, each managing more than $1 billion, with a combined total of $1.675 trillion as of July 1. Despite an increase in the ranks of this elite group from 246 firms in July