Overcrowding causes concern for the industry

Rapid growth in the hedge fund market has created an unstable investment environment, said Paul Harvey, managing director of London-based asset managers, GLG Multi-Manager Investments.

Market conditions have become increasingly challenging, he told the Hedge Funds For Pension Funds Conference in Amsterdam.

There is a growing perception that hedge funds are beginning to dominate the market and some strategies have become overcrowded, he said. Managers are moving beyond their core competencies beca