World's wealthy boost hedge industry

High-net-worth individuals' appetite for hedge funds was never greater than in 2001, according to the World Wealth Report by Cap Gemini Ernst & Young and Merrill Lynch.

The report noted the world's richest people provided the lion's share of the 34% expansion in assets under management in alternative investments, with high-net-worth investors principally interested in hedge funds and structured products, by 34% in 2001.

'High-net-worth investors invested in principal protected notes, especially th