Pain Endures for Hedge Funds as More Are Shuttered Than Started
- First quarter reflects managers struggling with volatility
- Liquidations show investors’ ‘low tolerance’ for poor returns
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The number of hedge funds continued to shrink last quarter as wild swings in stocks and commodities battered managers’ performance.
More funds shut than started in the first quarter, with 291 liquidated while 206 started, according to data published Thursday by Hedge Fund Research Inc. It was the second consecutive quarter that closings exceeded openings.