Funds of funds still shrinking
The funds-of-funds industry fell another 4.8% in the first half of 2010 & is down 46% from its peak
By Niki Natarajan
The funds-of-funds industry has managed to stop the hemorrhaging of assets that followed its dismal performance in 2008, but it is still bleeding.
Funds of funds that manage $1 billion or more in assets controlled $595 billion as of the end of June, according to the latest InvestHedge Billion Dollar Club survey.