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Hedge fund assets likely to lose up to $450bn

Business Report – Hedge funds lost more money last year than any year on record. It may get worse this year, forcing fund managers to overhaul investment strategies, reduce fees and make it easier for clients to withdraw cash.

The $1.2 trillion (R12 trillion) industry might shed as much as $450 billion in assets, or 37 percent, through market losses and client withdrawals this year, Morgan Stanley analyst Huw van Steenis said on Friday.

That was on top of the $600 billion that disappeared last year, and would leave hedge funds with $750 billion, the lowest since 2002. "It’s hard not to be bearish in this environment," said Van Steenis.

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