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Top 25 Fund of Hedge Funds Assets

Top 25 Fund of Hedge Funds

Top 25 Fund of Hedge Funds Lose 37% in Year and a Half

The world's largest fund of hedge funds took a heavy hit to their assets during the last year and a half.  The top 25 fund of hedge funds lost 37% of their assets from the end of July 2008 to the end of December 2009.  Only three of these top funds saw any actual growth in funds during this time.  Now these funds control just $319 billion as investors turn away from fund of funds and invest in the hedge funds themselves.
The world’s biggest funds of hedge funds took a beating over the last year-and-a-half, with more than one-third of their assets evaporating.
The top 25 fund of funds managers collectively saw their assets fall 37% to $319 billion between June 30, 2008, and Dec. 31 of last year, Pensions & Investments reports. Just three of the top 25 firms saw any asset growth at all, and some saw more than half of their assets disappear as investors increasingly shy away from funds of funds and their added layer of fees.
The hardest-hit managers included Union Bancaire PrivĂ©e and the Man Group, both of whom had exposure to the Bernard Madoff Ponzi scheme.  The former saw its assets plummet two-thirds to $18.8 billion, while the latter, which last year restructured its fund of funds businesses, lost 62% of its assets and now manages $17.1 billion.  Source

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