Hedge Funds Post Record Inflows

Hedge funds pulled in a record $38.2 billion in the first quarter of the year, the fourth consecutive quarterly high, as the loosely regulated investment pools continue to win over pension funds and other institutional investors.

Hedge funds now manage about $830 billion, according to Tass Research, a unit of Tremont Capital Management. The company said hedge funds drew $72.2 billion last year, also a record.

Robert Schulman, chief executive of Tremont, said inflows through March 31 were largely a result of "strong interest by institutional investors such as pension funds and endowments to make a first or additional investment to alternative strategies." ...