UK based hedge fund management firm Man reported net inflows of $1 billion in the first quarter of 2003, in contrast to overall global performance which witnessed total outflows of $11 billion according to recent figures from Hedge Fund Research.
"The fund of hedge funds industry is relatively sluggish but we have seen at Man Investments $1 billion of net inflows in the first quarter of this year," Rainer-Marc Frey, chief executive officer of Swiss funds of hedge funds group RMF (aquired by Man last year) told Reuters this week. He continued: "Although the institutions that are not invested in hedge funds are delaying entry those which are invested are increasing allocations quite dramatically."
According to Frey, RMF accounted for around half of these net inflows on the back of a very strong 2002 performance which saw returns of 6.5% per cent. In contrast, global fund of funds strategies saw net outflows of over $5 billion in first quarter, HFR figures show.
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