The top 0.1% are rapidly moving away from all the rest of us.
Top 25 hedge fund managers took home $570 mln on average last year
Simons, Griffin, Lampert earn over $1 bln in 2006
By Alistair Barr, MarketWatch
Last Update: 6:27 PM ET Apr 24, 2007
SAN FRANCISCO (MarketWatch) - The top hedge fund managers earned an average $570 million in 2006 and the three most successful - James Simons, Kenneth Griffin and Edward Lampert - took home more than $1 billion last year, according to a survey released on Tuesday.
Last year was the most lucrative for leading hedge fund managers since industry publication Alpha Magazine began the survey six years ago. The top 25 earned more than $14 billion in total last year, equivalent to the gross domestic product of Jordan or Uruguay, Alpha noted.
The $570 million average was up sharply from 2005, when top managers made $362 million on average. In 2004, the average was $251 million, Alpha said.
Friday, April 27, 2007
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