Funds of hedge funds lost more than $100 billion in 12 months because of outflows and poor performance, according to a new report.
Clients pulled $50.3 billion over the four quarters through March, while managers posted $51.5 billion in investments losses, research firm eVestment said Friday after analyzing data from more than 2,500 funds. Assets in the sector shrank 11 percent to $841.6 billion, the lowest since June 2009.
