The HFR Group, parent of Hedge Fund Research Inc. and HFR Asset Management, revealed at the weekend that according to its estimates, hedge fund assets gained $47 billion in Q2, rising to nearly $665 billion.
Bloomberg, which reported on the release of the new figures, explained that the jump was credited to higher returns from hedge funds investing in emerging markets, and from those which bet on rising markets, known as long-biased equity funds.
HFR Group went on to explain that the latter group performed so well last quarter because of a combination of factors, which included improvements in company earnings, interest rate cuts, and reductions in oil prices. It also revealed that hedge funds which bet on falling markets performed 12% worse in the quarter to June.
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