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Alternative Market Briefing

Hedge funds still slow to fully recover from 2008

Tuesday, August 28, 2012

Bailey McCann, Opalesque New York:

Four years after the 2008 crisis, hedge funds as an industry are still exhibiting significant weakness, according to a spate of data from all corners of the industry released yesterday. Despite a strong early start to the year, the performance data for the first half of 2012, and the outlook for the remainder of the year, doesn't present a glowing picture. According to the Dow Jones Credit Suisse Hedge Fund Index, in July alone, the industry saw estimated outflows of approximately $8.5bn. Overall assets under management have also dropped from approximately $2tn to $1.75tn.

Additional data released from eVestment|HFN shows that structurally, the number of hedge funds and hedge fund of funds in existence today remains well below 2008 levels. The decline in the overall number of hedge funds is less than the number of fund of hedge funds, although redemptions have continued for the last five consecutive months, and in 12 of the last 13 months. The SS&C GlobeOp Forward Redemption Indicator for August 2012 ......................

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