2008-07-08 — theglobeandmail.com
It's all about the name brand in the hedge fund world. As the number of unknowns hanging out a shingle dwindles with access to credit and stock prices, the big names in the industry are still gathering record amounts of capital.
Funds with a record $19.5-billion (U.S.) under management launched in the first half of 2008, even as the overall number of launches slumped 50 per cent, according to the Absolute Return new funds survey. And of that almost $20-billion, a whopping 71 per cent was in the top five funds.
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