Closed-ended envy

fund structures

The growth of exchange-traded hedge fund products over the past five years has been as healthy as that of closed-ended investment companies in general, and the reasons behind this growth are not hard to see. Taking the London Stock Exchange as the home market, figures from ABN Amro Bank show a combined market capitalisation of £590m in hedge fund products at 31 December 2001, growing to £3.056bn by the end of 2006.

In 2006 alone, hedge funds accounted for £820m in capital raisings from seven

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