Hedge funds saw net capital inflows of $72.2 billion last year, according to figures published in February by Tass, a research unit of US-based fund of funds Tremont Capital Management. Institutional investors accounted for a large proportion of this new capital, says Tass, which derived its results from a survey of 4,565 hedge funds that manage $489.5 billion in assets.
But as is often the case when looking at the hedge fund industry, the figures can be deceptive. New research published by Conn
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