Correction: Hedge fund industry assets grew about 150% to more than $1 trillion as of Dec. 31, compared with about $400 billion as of Dec. 31, 2002. Hedge fund-of-funds assets grew at much slower pace over the same period, up 66.7% over the two years to $500 billion, from $300 billion. The wrong time period was given in a May 12 P&I Daily item.
Also, Sol Waksman, president of The Barclay Group, stressed that industrywide hedge fund asset totals do not include hedge fund-of-funds assets, in order to avoid doublecounting.
