Hedgies hold record capital

INVESTMENT in hedge funds reached a record high in the first-quarter of this year, US monitor firm Hedge Fund Research said yesterday.

Global hedge funds held $2.02 trillion (£1.24 trillion) in capital by the end of March as assets under management rose by $102bn in the quarter. Funds saw $32bn of new inflows, the largest since the third-quarter of 2007.

Funds now hold the highest level of capital since mid-2008, when assets reached $1.93 trillion.