Hedge funds see $155 billion of withdrawals

ArabianBusiness.com – A record $155 billion was pulled out of hedge funds last year, punishing the once red-hot asset class for delivering its worst-ever returns, according to numbers released on Wednesday.

Chicago-based tracking firm Hedge Fund Research said hedge funds around the world now manage an estimated $1.4 trillion, the same sum they managed in 2006 and far less than the $1.93 trillion they invested in the middle of 2008.

This is only the second time since 1990 that the exclusive and often secretive hedge fund industry suffered net outflows for the full year, HFR said.

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