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Hedge fund industry still feeling Madoff effect

Reuters – Bernard Madoff is behind bars, but the effects of his fraud are still reverberating in the hedge fund industry, with more redemptions expected and investor confidence decimated.

Traumatized investors are now more likely to closely monitor where their money is and who is managing it, hedge fund professionals said at the Reuters Private Equity and Hedge Funds Summit this week.

"You know, it is just absolutely devastating," said Anthony Scaramucci, managing partner at SkyBridge Capital, referring to the Madoff scandal.

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