Funds attract assets of $3.5bn

TASS Research has released a research report which shows that long/short hedge funds attracted $3.5bn-worth of new assets for the third quarter 2000. This accounted for 83% of all new assets going into the hedge funds industry during this period.

The event driven category attracted $1.6bn in the third quarter, which accounted for 38% of new asset flows. Investments were mainly in the risk arbitrage sub-sector which was primarily focused on the US and Europe. However, the distressed securitie