Hedge fund assets rise in Q3

Date: Monday, November 13, 2006
Author: Kathie O'Donnell, Investmentnews.com

Total hedge fund assets rose 3.53% to $1.786 trillion in the third quarter, HedgeFund.net estimates released today show.

Net new assets allocated to hedge funds increased an estimated $51.5 billion.

While less than the two prior quarters, it still marks the third-highest inflow since the start of 2005, according to HedgeFund.net, a unit of New York-based Channel Capital Group Inc.

Performance gains added an additional $9.3 billion to total assets.

Fund of fund assets rose 4.4% - including $34 billion in new assets - to an estimated $901 billion according to HedgeFund.net, which has an online database of more than 7,000 hedge funds, fund-of-funds and managed futures products.