Hedge fund firm GLG says industry flows stabilised |
Date: Thursday, June 18, 2009
Author: Laurence Fletcher, Reuters
* Industry flows stabilised after heavy outflows
* Uptick in performance shows industry in better shape
MONACO, June 17 (Reuters) - Investor flows out of the hedge fund industry have stabilised and the health of the industry has improved, GLG (GLG.N) senior managing director Pierre Lagrange told Reuters on Wednesday.
"Industry-wide they (flows) have stabilised," Lagrange said in an interview on the sidelines of the GAIM 2009 conference in Monaco. "You can see from performance that things are better."
The hedge fund industry has suffered redemptions of around $250 billion between October and March as investors fretted over record poor performance last year.
Earlier this month, the London-based, New York-listed GLG, which last year suffered from redemptions and the departure of star manager Greg Coffey, said the firm's hedge funds were up 11.2 percent on average in the five months to May 31.
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