Wealth management

In Brief: Hedge Fund Assets Grew 19% in Year

Published January 28, 2005, 2:00 a.m. EST

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Updated January 27, 2005, 5:32 p.m. EST

1 Min Read

U.S. hedge fund assets increased 19% last year, to $972.6 billion, Hedge Fund Research Inc. said Thursday.

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Investors poured in $27 billion during the fourth quarter, 59.8% more than in the third, the Boston data provider said.

Assets in hedge funds that seek companies facing bankruptcies, mergers, or acquisitions totaled $128.6 billion at yearend, 28% more than on Sept. 30, according to Hedge Fund Research's data. The hedge fund category with the most assets, $358.6 billion, was funds of funds - portfolios of shares of individual hedge funds.

The average hedge fund returned 9.64% last year, down from 15.44% in 2003 and trailing the average stock mutual fund, at 11.96%, Credit Suisse First Boston Tremont Index LLC and Lipper Inc. reported last week.

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Wealth management

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