Reuters UK- European hedge fund launches in the first half of 2008 fell to their lowest level since the last bear market, a survey showed on Monday, as the credit crisis hit investors’ confidence.

The survey by EuroHedge, part of news and data group HedgeFund Intelligence, showed 106 funds were launched in the first half, which is 45 percent down on a year ago and the lowest level since the first half of 2002, when markets were still in a three-year bear market and 84 funds were launched.

However, just over 50 funds closed down in the first half of 2008, indicating the number of funds continues to grow.

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