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January 15, 2009

FT: $150bn redeemed from hedge funds in Dec

By Spear's

Investors pulled close to a net $150bn from hedge funds last month in spite of moves by dozens of funds to halt or suspend redemptions.

Investors pulled close to a net $150bn from hedge funds last month in spite of moves by dozens of funds to halt or suspend redemptions.

The record December figure, equivalent to about 10 per cent of industry assets, extends the run of outflows to four consecutive months and has increased the total net outflow for 2008 to $200bn.

The size of the once lucrative industry has almost halved in the past year, to $1,000bn under management, according to data from TrimTabs Investment Research and Barclay Hedge.

Conrad Gann, chief operating officer of TrimTabs, said he foresaw more redemptions in the first quarter of 2009.

“We expected December hedge fund redemptions to be significant, but the results are still surprising … twice the peak equity mutual fund outflows in September at $72bn,” he said.

To read the full article, visit FT.com

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