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Alternative Market Briefing

Hedge funds are 'closing like crazy’ this year

Thursday, December 04, 2014

Komfie Manalo, Opalesque Asia:

Hedge funds are "closing like crazy" with more than 400 shut downs in the first half of this year alone at a rate not seen since the height of the global financial crisis in 2009, various media reported.

According to CTPost.com, at least 461 hedge funds closed shop between January and June this year. Industry experts said that if the trend continues, 2014 would be recorded as one of the worst years in hedge funds history since 2009 when over 1,000 funds closed down.

A separate report by Business Insider placed the number of hedge fund closures in 2009 at 1,023. Data from data provider Hedge Fund Research said that a total of 1,471 hedge funds shuttered in 2008.

Energy hedge fund AAA Capital Management Advisors is the latest fund to announce it was shutting its doors and return investor money at the end of the year as traders continue suffering lackluster returns amid a structural change in energy markets.

Anthony Annunziato, the fund's president, said on its website after 17 years of managing money, "I have decided to return investor capital and retire from the asset managem......................

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