English Eastday – Investors continued to withdraw capital from hedge funds in the first quarter of 2009, redeeming nearly 103 billion U.S. dollars, according to data released on Tuesday.

The redemption figure, about 7.3 percent of overall hedge fund assets, was down from the record quarterly withdrawals in the fourth quarter of 2008 of over 152 billion dollars, said Chicago-based Hedge Fund Research (HFR).

Total hedge fund industry capital declined to 1.33 trillion dollars as of the end of the first quarter of 2009, 600 billion dollars below the its peak at the end of the second quarter of 2008 and 75 billion dollars less than the total asset at the year-end 2008.

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