Winton Capital Management LLC, the London-based firm founded by David Harding, collected more than a 10th of the cash flowing into hedge funds this year as a handful of managers dominated money-raising, the fine folks at Bloomberg report.
Winton, with $26 billion in assets, pulled in a net $7.3 billion through Oct. 31, according to two investors, who asked not to be identified because the firm is private. In all, nine funds, including Millennium Management LLC and Capula Investment Management LLP, have attracted almost 38 percent of the new money this year, according to investors in the funds.
“It’s been a tough slog,” said Emma Sugarman, global head of capital introduction at BNP Paribas SA in New York. “Most funds expect to end the year flat in terms of inflows and outflows.” But the most popular funds have attracted new capital because they’re considered defensive strategies, not prone to losing money in volatile markets. They generally avoid making big directional bets or concentrating investments. That’s appealed to investors as the Standard & Poor’s 500 Index has gyrated more than 200 percentage points this year, only to end up about where it started on Jan. 1….
Find out more at http://www.bloomberg.com/news/2011-11-21/winton-gets-10-of-all-new-money-as-investors-flock-to-biggest-hedge-funds.html#
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