Emerging market hedge fund assets at record $121 bn: HFR

Assets managed by hedge funds betting on emerging markets rose to more than $121 billion in the first quarter of 2011, toppling the previous record of $117 billion set in 2007, according to data released by industry tracker Hedge Fund Research (HFR) today.

Assets managed by hedge funds betting on emerging markets rose to more than $121 billion in the first quarter of 2011, toppling the previous record of $117 billion set in 2007, according to data released by industry tracker Hedge Fund Research (HFR) on Friday.

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The quarterly asset total increased by more than 6.5% as hedge fund investors raised exposure to emerging Asia and Russia, HFR said in a statement.

The increase in assets includes an inflow of about $2.3 billion in new capital, primarily in emerging Asia, and $5.1 billion in performance gains.

"The record level of assets invested in emerging market hedge funds represents the latest evidence that global investors continue to exhibit a preference for accessing specialised emerging markets exposure via hedge funds," said HFR President Kenneth Heinz.