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Opalesque Exclusive: Credit Agricole report reveals $700bn decline in hedge fund assets in 2008, total number of funds from 9,700 in 2007 to 8,900 now
Crédit Agricole Structured Asset Management (CASAM) has released its 2008 Industry Report on hedge funds and commodity trading advisors (CTAs). The report includes over 100 charts and graphs analysing data drawn from the CASAM CISDM Database and is available to accredited investors through casamhedge.com.
CASAM, together with the non-profit academic research centre, CISDM (Centre for International Securities and Derivatives Markets) at the University of Massachusetts Amherst, estimates total hedge fund assets at the end of 2008 at US$1.43 trillion, a decline of over US$700 billion or 34% from 2007 levels.
The total number of hedge funds is estimated to have declined from over 9,700 at the end of 2007 to around 8,900 today.
In terms of assets under management, convertible arbitrage funds suffered the largest decline with assets plummeting over 52%, followed closely by emerging market funds with a drop of 51%. Excluding CTAs, the only hedge fund strategy to increase assets in 2008 was global macro, with a total increase of US$28 billion or 13%.
In the worst year on record for the industry, hedge funds as a whole, excluding CTAs, posted a negative performance of -19.2% for 2008, with those invested in emerging markets posting the lowest results at -34....................... To view our full article Click here
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