Funds

They cant all be masters Apr 22nd 2007 From Economist.com These old age the bigger the ring bloodline, the better THE New Masters of the Universe was the filmdom splash chosen by Portfolio, a business snip that launched farthest week, to highlight a feature about hedge funds by Tom Wolfe. The headline may bewilder left near wondering if the editors or Mr Wolfe, author of The bonfire of the Vanities, had fallen behind the curve. Egos in Greenwich and Mayfair have taken some hits in young months. True, the best hedge-fund managersâ€"or those with the best messâ€"continue to pull in ten-figure salaries. But the average fund returned much less than the S&P 500 (including dividends) last year. In the quaternityth quarter, moreover, hedge funds give the axe inflows slumped as faith waned in their ability to outperform traditional assets and the manhood digested the collapse of Amaranth, a hedge fund that had bet disastrously on gas futures. But perhaps Mr Wolfe and his editors had been given a sneak preview of the latest data from Hedge stock certificate Research (HFR), published a few days after Portfolio hit the news-stands. It showed an impressive rebound. Hedge funds net inflows in the first quarter of this year reached a record $60.2 billion, four times the level of the previous three-month period (see chart).

This brought the total aggregate held by such funds to $1.57 trillion. If money were to continue to pour in at its current pace, 2007 would see total net inflows of $240 billion, double the previous annual record. Moreover, hedge funds be beating the indexes once again. They made an average return of 2.8% in the first quarter, compared with 2.1% for the MSCI global stock index and a low 0.6% for the S&P 500. The best-performing funds were those focused on emergent markets. Hedge funds are increasingly becoming activist investors in stockmarkets in developing countries, and reaping the benefits, according to a recent report from Citigroup. More ominous for the markets in general,... If you want to wank a full essay, order it on our website: Ordercustompaper.com

If you want to get a full essay, wisit our page: write my paper