AH ennessee news release said the attrition rate includes hedge funds with assets greater than $10 million that have liquidated, either through poor performance or through career choices, such as manager retirement. It does not include hedge funds that are currently operating but have closed to new capital. The latest number is in line with the six-year annualized attrition rate of 4.96%, the company said.
The attrition rate for recent years, according to the announcement, was:
- 2003 5.3%
- 2002 3.8%
- 2001 4.3%
- 2000 6.4%
- 1999 4.7%
The Hennessee Hedge Fund Index is comprised of approximately 800 managers, believed to be 10% of the managers in the global hedge fund marketplace, and is also believed to represent approximately 50% of the hedge fund industry’s total capital, according to the company.
« Court: Plan Adm. Correct in Denying Dental Benefits for Denture Implants