Italian single hedge funds and fund of hedge funds (FoHF), collectively called fondi speculativi (speculative funds), have experienced slow, steady growth since they first appeared on the Italian market in 1999. Assets under management (AUM) of fondi speculativi have grown every year and in August 2008 totalled €34 billion. Fondi speculativi have been popular since the end of 2004.
However, Italy's hedge fund sector is a small sector compared to the rest of Europe and hedge funds are still a nich
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