Hedge Funds saw outflows of $5bn in April (Headlines)
Hedge funds lost $5.1bn to outflows in April, reversing inflows of $2.8bn in March, as persisting uncertainty in the euro zone affected investors worldwide.
Union Bancaire Privee agreed to buy Nexar Capital Group for an undisclosed sum. Nexar, a fund of hedge funds manager based in Paris and New York, had about $3bn of assets under management at the end of last year, UBP said today in an e-mailed statement.
Investors should have 100 percent of investments in equities because of valuations and higher returns than bonds, said Laurence D. Fink, chief executive officer of BlackRock Inc. (BLK), the worldâ??s largest money manager.