Fund-of-Funds Industry Will Be Worth Half


	Fund-of-Funds Industry Will Be Worth Half

Victoria Barret

1-8-2009 9:23 PM

901 views

tags:

hedge funds, madoff, fund-of-funds

Victoria Barret says:

That's my prediction. Why? There's Madoff. Then the fact that these funds do worse than the average hedge fund.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/979b9e34-4595-472e-b900-605273f1a529/A5329C84-E2F3-4404-9114-0EB5C06F3AA2/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://online.wsj.com/article/SB123144443944765309.html?mod=article-outset-box" href="http://online.wsj.com/article/SB123144443944765309.html?mod=article-outset-box" style="font-size: 11px;">online.wsj.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://online.wsj.com/article/SB123144443944765309.html?mod=article-outset-box"><P>As of the beginning of 2008, funds of funds supplied more than 40% of hedge funds' nearly $2 trillion in assets globally. That was more than double the fund-of-funds share at the start of the decade, when the total hedge-fund industry was dramatically smaller, HFR says.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://online.wsj.com/article/SB123144443944765309.html?mod=article-outset-box"><P>Clients pulled $35 billion from these funds between July and October alone, the latest figures that are available, according to HFR. The withdrawals meant that more than half of the money that flowed into funds of funds for all of 2007 was taken back out. Fund-of-funds redemptions picked up even more in November and December, fund managers say.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://online.wsj.com/article/SB123144443944765309.html?mod=article-outset-box">In 2008, the average fund-of-funds firm globally declined 20% on investments, compared to the 18.3% average decline of hedge funds, HFR said Thursday. Both topped the Standard & Poor's 500-stock index, which declined 37% last year, including dividends.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/A5329C84-E2F3-4404-9114-0EB5C06F3AA2/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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