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April 23, 2006

Massachusetts leading in hedge funds

According to new federal filings it has been determined that financial firms in Massachusetts manage approximately $150 billion in hedge funds and other private investments. This estimate implies that they manage about 10 per cent of the total amount of $1.5 trillion that is held in private funds across the nation, according to estimates made by the Securities and Exchange Commission.
Boston.com reports:

While regulators couldn't provide figures showing where Massachusetts ranks compared to other states, the filings show that Boston is a major center of private investment.

Much of the money is tied to traditional financial-services companies including Bank of America, mutual-fund giant Fidelity Investments, and money-manager Wellington Management Co.

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April 23, 2006 in Research | Permalink

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