P&I – Huge growth in alternative investment mutual funds is fueling a big market for subadvisory hires for hedge fund managers.
What’s catching the attention of many smaller hedge fund managers, and to a lesser extent big fund complexes, is steady growth of multi- and single-manager hedge fund strategy mutual funds. Assets managed in these funds jumped 54% to $139.3 billion in the year ended Dec. 31 and increased 292% from year-end 2007, according to Morningstar Inc., Chicago.
