Money managers under the microscope
2009 – an annus mirabilis?
There is already hard data out from HFR showing hedge funds received net inflows of $1.1 bln in Q3 (small, but nevertheless a relief after $330 bln of net outflows in the year to June).
However, anecdotal evidence suggest it has picked up much more strongly in Q4, helped, no doubt, by gains of 17.53 pct so far this year, according to Credit Suisse/Tremont.
An interview with GlobeOp CEO Hans Hufschmid (incidentally a former LTCM partner) yesterday revealed gross and net inflows and outflows had all returned to pre-crisis average levels. (GlobeOp should know — it has $106 bln of client assets, mostly hedge funds, under administration).