Please, turn this into $1.0255 billion!
As we’ve mentioned, in recent months, hedge funds have built up a small but—given their recent history—impressive lead in their annual battle against the S&P 500. Sure, the S&P picked up a whole bunch of ground in the world’s slowest race last month, adding 1.1% while hedgies rose just 0.26%, but the latter still lead by 2.55% to about 2%, so that’s something. Something enough to convince 51 new investors to boost their hedge-fund portfolios to the $1 billion level.
The number of global investors with $1 billion or more invested in hedge funds has climbed to a total of 227 over the last year, even as a number of high-profile pension funds withdrew from the space….
Insurance companies -- which made up the largest group of new entrants to the club in when surveyed the previous year -- were beaten out by private-sector pension funds this year, Preqin found. These accounted for 29 percent of the new entries to the $1 billion group between May 2014 and May 2015.