Investors poured $8.4 billion into hedge funds in the second quarter, more than the total amount invested in hedge funds in all of 2000, according to a news release from TASS Research.
Event-driven strategies — primarily the distressed securities subcategory — and long-short equity categories each received $2.5 billion in net assets, while convertible arbitrage strategies raked in $2.4 billion in net assets. The biggest loser: global macro strategies, which reported a $1.15 billion loss in net assets.
In the release, Nicholas Meaden, CEO of Tremont TASS (Europe), said: "More than $15 billion in net assets have been invested with hedge funds in the first half of the year with the flows emanating from high-net-worth and institutional investors who are looking for returns non-correlated to the world’s major markets.”
