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Hedge Fund Closures 2Q 2010

Hedge Fund Closures 2Q 2010

Fewer Hedge Fund Closures and Fewer Fund Launches

The hedge fund industry had fewer funds close their doors in the second quarter of 2010 but there were also less hedge fund launches. This seems to reflect a change in investors in favor of the large established hedge funds over new, smaller funds.
Hedge fund liquidations fell to 177 in the second quarter from 240 in the first quarter, bringing the total number of fund closures in the first half of the year to 417, according to data released by Hedge Fund Research Inc.

The industry tracker said steady returns and greater clarify around the impact of financial reform legislation helped reduce the number of fund closures.

In the first nine months of the year, HFR’s weighted composite index returned 1.65%. That compares with a gain of 19.98% for all of 2009 and a loss of 19.03% for all of 2008.

Performance dispersion among hedge funds declined from record levels, with 69 percentage points separating the best and worst performing deciles of funds for the 12-month period ending July 2010: the top decile of hedge funds averaged a return of 52.2% during this period, while the bottom decile lost 16.8%. Performance dispersion had reached a peak level of over 130 percentage points in the 12-month period ending in March 2010. source

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