GLOBAL - Hedge funds gained record inflows of $38.2bn (e31.5bn) in net assets during the first quarter of the year, new research shows.
TASS Research, the research unit of Tremont Capital Management, said the gains marked a fourth consecutive quarterly record for industry inflows.
Reported flows showed that investors continued to favour equity-oriented strategies during the first quarter as they had in the previous two quarters.
In the fourth quarter of 2003, investors added a net $26.8bn in assets to cap off the industry’s best growth year during which it captured $72.2bn in net inflows.
Robert Schulman (pictured), co-CEO of Tremont Capital Management said: “The brisk inflows into hedge funds continue unabated.
“Several significant trends are driving this phase of the industry’s growth. Those include a continued strong interest by institutional investors such as pension funds and endowments to make a first or additional investment to alternative strategies.”
For the third quarter in a row, the three most popular strategies based on net asset inflows were long/short equity, event driven and global macro.
The same three strategies, which were the most popular for all of 2003, received net inflows of $8.2 billion, $6.9 billion and $5.5 billion during the quarter and accounted for approximately half of the quarterly net asset flow.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.