Tuesday, Nov 20, 2007
More than one in 10 of all hedge funds will go out of business this year as the rate of failure doubles, the head of Man Group, the world’s biggest listed hedge fund manager, has predicted.
ft.com: Man Grp Chief Exec: One Hedge Fund In 10 To Go Bust
The market turmoil this year has claimed a large number of hedge fund scalps, with notable collapses including funds from Bear Stearns, Australia's Basis Capital and Sowood Capital.
UBS closed its Dillon Read Capital after subprime losses, and many other funds have closed to withdrawals and are struggling to survive, including some from Mallorca-based Absolute Capital and London's Cambridge Place Investment Management and Wharton Asset Management.
Posted by chris @ 10:56 PM (160 views) Add Comment
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