Italians buy in to hedge funds

Italian investors are continuing to pile into hedge fund products with Akros Asset Management, Gartmore and Nextra all reporting big inflows.

Akros Asset Management has raised e120m since its launch of the first of three fund of hedge funds at the end of 2001.

The Everest Low Volatility, Everest Absolute Return and Everest Global Equity are all managed by Paolo Barbieri in conjunction with US-based group, Hedge Fund Research. The Global Equity Fund mainly comprises US fund managers.

Barbieri said: