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Long and short funds merge to ride crisis

Financial Standard – The financial crisis could bridge the gap between diametrically opposed asset managers with more hedge funds merging with long-only funds to slash operational costs, predicts consultancy firm Accenture.

Mark Halverson, global executive partner, wealth & asset management, at Accenture Capital Markets said one of the fallouts of the market crisis is that in Europe, some hedge funds and private equity firms with long-only asset managers are merging their businesses either to stay afloat or to halve operational costs.

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