Fund, which means "risk hedge fund", originated in the United States in the early 1950s. At that time, its operation purpose was to use financial derivatives such as futures and options to buy and sell related stocks, and the risk hedging operation skills could avoid and resolve investment risks to a certain extent. 1949 The first Jones hedge fund with limited cooperation in the world was born.
Although hedge funds appeared in the 1950s, they did not attract much attention in the next 30 years. Until 1980s, with the development of financial liberalization, hedge funds had broader investment opportunities and entered the stage of rapid development. In the 1990s, the threat of world inflation gradually decreased, while financial instruments became more mature and diversified.
Hedge funds have entered a stage of vigorous development. According to the British Economist, from 1990 to 2000, more than 3,000 new hedge funds appeared in the United States and Britain. After 2002, the yield of hedge funds has declined, but the scale of hedge funds is still not small. According to the report of Financial Times 20 15 10.22.
As of 20 12, the global total assets of Hui Kai wealth hedge funds have reached 1. 1 trillion dollars. It is still uncertain which is the earliest hedge fund. During the great bull market in the United States in the 1920s, there were countless such investment tools specifically for the rich. One of the most famous is the Graham Newman Partnership Fund founded by Benjamin Graham and Jerry Newman.
In 2006, Warren Buffett declared in a letter to the magazine of American Financial Museum that Graham Newman Partnership Fund in the 1920s was the earliest known hedge fund, but other funds may have appeared earlier.