New York, NY (PRWEB) October 30, 2006
London-based Man Investments unseats UBS to take top honors in Alpha magazine’s Fund of Funds 50, the fifth annual ranking of the world’s biggest multimanager hedge fund firms. Man Investments’ fund capital grew by more than 11 percent to $39.8 billion in multimanager hedge funds, helping it to overtake the Swiss giant, which sold its $18 billion Global Asset Management fund-of-funds business to Julius Baer Group in December 2005.
With a more than 44 percent increase in fund capital, Union Bancaire Privée held on to its No. 3 spot maintaining $30 billion in multimanager hedge funds. Rounding out the top five are Permal Asset Management moving up to No. 4 with $26 billion in fund capital, a gain of more than 38 percent, and HSBC Private Bank/HSBC Republic Investments with $25.2 billion in multimanager hedge funds, a gain of nearly 25 percent.
The 2006 gains come in stark contrast to pundit predictions of the nearing demise of the fund-of-hedge-funds business. UBS, as the result of its sale of GAM, was the only top ten firm — and one of just five total firms — to post a loss. On the whole, Alpha’s Fund of Funds 50 oversaw a combined $550 billion in assets as of June 30, 2006, up 21 percent from last year’s ranking.
Alpha‘s Fund of Funds 50 firms include:
2006 rank / 2005 rank / firm/ firm-fund capital ($millions) 2006/2005
1 / 2 / Man Investments / $39,800 / $35,600
2 / 1 / UBS / $37,762 / $44,974
To view the complete rankings and the full article, please visit http://www.institutionalinvestor.com
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