Dust Tracks in Asia - Global Hedge Managers and West Coast Midnight Run

level of funds under management in excess of US$ 1 trillion for the first time.”

In recent times, global investment managers witnessed an overall decline in funds under management to unprecedented low levels as recorded in 2006, at roughly $64 tri-
llion dollars (USD).

Barron’s report in May of this year was far more

bullish on hedge funds believing the worst was behind and that the mortgage backed securities industry, the source of the domino-effect in the recent global financial crisis, “has recovered strongly since...”

Barron’s Top 100 Hedge Funds of 2012 is so powered up its report headlines “As industry assets pass $2 trillion, mortgage specialists surge to the top.”

Barron’s May article also spotlights Christian Zugel, formerly head of high-yield bonds at JPMorgan: "they were hammered so excessively that when markets finally normalized, it set the stage for a powerful rebound that has continued to this day," Barron’s article further

states “Zugel's fund was badly hit in 2008, having lost 73.6%, but survived and has roared back impressively.”

Meanwhile Forbes Magazine reports for 2012 “The hedge fund industry is going through tough times. The average hedge fund manager has been unable to beat the market for the last 20 months. “

On its list of the 400 wealthiest Americans, 8% are top hedge managers who derive much of their wealth from the increasingly higher and higher fees they now charge the investor to participate in the hedge fund. Forbes continues “In other words, these hedge fund managers represent 8% of the nation’s wealthiest individuals, which is a bigger percentage than ever before.”