Investors looking to beat the average returns of the market will be heading to hedge funds and funds of hedge funds even more in the future, says new research.
According to TowerGroup, a Needham, Mass.-based consulting firm, assets in hedge funds and funds of hedge funds are expected to grow from roughly $1.2 trillion today to more than $2.1 trillion by 2008.
The reason, says the report, is the expanding client base of the hedge fund market. Institutions' allocations to hedge funds, as well as the proliferation of fund of hedge funds and new retail investment products with lower investment minimums, will all contribute to the boom.
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