Although assets are still way down from their peaks, there were two encouraging signs last month that the tide may be turning for hedge funds.
Hedge funds gained 1.84% in March and were subject to only 1% in redemptions, according to
In December, investors redeemed $186.43 billion from hedge funds. That narrowed to $17.6 billion in March, with total assets in hedge funds worldwide now standing at $1.724 trillion. Total redemptions in the first quarter were $217.75 billion.
Raymond James spent more than $100 million to recruit and retain advisors in its latest quarter. CEO Paul Shoukry says he'd rather do that than buy another firm.
Jess Polito of Turkey Hill Management says she believes her firm is the only M&A advisory firm that exclusively uses retainer fees, rather than commissions.
Proceeds from the sale of Stifel Independent Advisors, aligned with declining litigation costs, helped drive firm-wide revenue to its second-highest level on record.
Adam Cox led the wealth management division of a regional bank for 10 years. His lack of an ownership stake in the business he'd spent so much time building eventually drove him to seek independence.
A consulting and M&A advisory firm presented six prospective sellers to 17 buyers, with striking results for any advisory teams tapping into a frothy M&A market.
Ron Kruszewski led Stifel through a year that saw record revenue and strong advisor recruiting, but also a string of legal setbacks.
