The rate of asset haemorrhaging of the InvestHedge Billion Dollar Club subsides to -13.5% in the first half of 2009, leaving 117 firms standing after 18 months of turmoil
By Niki Natarajan
Emerging slowly from its protective cocoon, the fund of hedge funds industry seems to be settling into its new body. A lithe figure of $613.17 billion in total assets at 30 June 2009 and 117 funds of hedge funds with more than $1 billion under management now make up the members of the six-monthly InvestHedge Billion Dollar Club survey.
The previously obese industry has reduced its assets more gradually than many expected in the first six months, having lost -13.47%, perhaps indicating that the worst may be over. In the first