Billion Dollar Hedge Funds
Billion Dollar Hedge Funds Grew AUM by 3% in 2011
Hedge funds that manage over $1 billion are still raising more capital for their funds, but at a slower pace than in 2009 or 2010. In 2011, billion dollar hedge funds grew by 3% according to a recent survey of these large funds. Despite the slightly disappointing growth, hedge fund performance are up more than 3% so far in 2012 and investor confidence in the broader markets at least has been growing.
Assets managed by U.S. hedge funds with $1 billion or more rose by 3% last year to $1.34 trillion, in the most tepid asset growth on record, tempered by disappointing performance.
Trade publication AR magazine's biannual Billion Dollar Club survey, which charted billion dollar shops' asset size since 2001, said more than 40% of the funds lost assets in 2011, with the majority of the decline occurring in the second half of the year. The AR Composite Index of U.S. hedge fund performance ended the year down 0.47% in its first annual loss since 2008.
Hedge funds, however, are off to a good start this year, gaining 3.35% this year as of March 1, according to Chicago-based Hedge Fund Research.
Assets for billion dollar hedge funds rose 4.3% in 2009 and 9.7% in 2010 after plunging nearly 30% in 2008, AR magazine said, when the financial crisis caused steep declines in many and wiped out some funds altogether. The largest annual growth for such funds was in 2006, when assets increased by 40.8%. Source
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