Hedge Funds Suffer Worst Outflows Since Financial Crisis Era
- Clients pulled $15 billion in quarter, most since mid-2009
- Paulson, Pershing Square, Viking Global had negative returns
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Hedge funds suffered the worst withdrawals last quarter since the tail-end of the financial crisis as wild swings in stocks and commodities caused losses at some of the best-known firms.
Investors pulled a net $15 billion between January and March, reducing assets under management to $2.86 trillion from $2.9 trillion, Chicago-based Hedge Fund Research Inc. said Wednesday. The last time outflows were higher was in the second quarter of 2009, when $43 billion was redeemed.