Hedge Funds August Fundraising
Hedge Funds Reach Six Month Fundraising High in August
Emerging-market, fixed-income and macro funds, whose managers seek to profit from global themes or trends, took in the most cash, the research firms said today in a report. Emerging-market funds received $2.5 billion, fixed-income funds got $2.3 billion and the macro category took in $2.1 billion.
“August was a down month but people are coming in because the fear is disappearing,” Sol Waksman, president of Fairfield, Iowa-based BarclayHedge, said in a telephone interview.
Hedge funds, with worldwide assets of $1.6 trillion, lost an average of 0.3 percent in August and gained 1.7 percent in the year’s first eight months, according to the report. The Standard & Poor’s 500 Index of large U.S. stocks lost 4.5 percent in August and 4.6 percent in the eight-month period. Source
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