By Hedge Fund Insight staff
Today The Hartford reported its’ Third Quarter 2016 Net Income. Included in the press release was this paragraph:
“Third quarter 2016 net investment income totaled $772 million, before tax, a 6% increase from third quarter 2015, principally due to higher investment income from LPs. Investment income from LPs totaled $93 million, before tax, in third quarter 2016 compared with $22 million, before tax, in third quarter 2015. The increase was largely due to improved hedge fund results compared with losses in third quarter 2015, as well as an increase in private equity funds. Excluding the impact of LPs, net investment income was down 4% compared with third quarter 2015.”
In a period when there has been no good news for hedge funds from US Institutional investors this crumb stands out.