Tuesday, January 13, 2009
From a Bloomberg news story:
Jan. 13 (Bloomberg) -- Hedge funds lost $350 billion
globally in 2008, the most on record, as the biggest financial
crisis since the Great Depression crippled returns and caused
investors to pull money out, according to an industry report.
About 90 percent of the money was lost in the three months
to the end of November, according to a preliminary report
published today by Singapore-based data provider Eurekahedge Pte.
Funds that invested in North America declined the most, posting
a drop of $183 billion for the year, the report said.
In addition, pension funds suffered severe losses as well.
Posted by MK at 8:42 AM