Sunday, September 28, 2008

Financial crisis: Hedge funds face record redemptions

Hedge funds face record redemptions :

Financial crisis: Hedge funds face record redemptions Global hedge funds will this week be forced to hand back hundreds of millions of pounds to investors in the biggest round of redemptions the sector has ever faced.Hedge funds are preparing to return between 10 per cent and 50 per cent of their assets under management to investors who want their money back at the end of yet another quarter of dire investment performance. One prime broker said: “Many funds will have to close. There were a flood of redemption notices at the beginning of the quarter but many investors said they wouldn’t actually withdraw the money if performance improved. It hasn’t.”

Posted by big chris @ 11:57 PM (641 views)
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