Hedge Funds Pull In $42.1 Billion in Quarter
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Hedge funds attracted a net $42.1 billion from April through June, the most in one quarter since at least 2003, according to a new report.
The funds’ net inflow for the first half was $66 billion, bringing total assets to $1.23 trillion, Chicago-based Hedge Fund Research Inc. said.
For all of 2005 the funds took in a net $47 billion.
Hedge funds that invest in stocks were the most popular category in the quarter, collecting a net $13 billion.
So-called macro funds, which try to cash in on macroeconomic trends by investing in stocks, bonds, currencies and commodities, pulled in $8.4 billion.
“Event-driven” funds, which bet on companies going through mergers and other corporate actions, added $6.4 billion.
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