Global hedge-fund lost $64 billion in November

According to Eurekahedge Pte via Bloomberg, The global hedge-fund industry lost $64 billion of assets in November after lost $100 billion in October. The Number consists of:

• $18 billion net loss, contributed by market declines
• $46 billion of investor redemptions

Hedge-fund industry assets shrank by 13% to $1.65 trillion in October from its peak at $1.9 trillion in June.

George Soros on November 13 said, "Hedge funds grew to approximately $2 trillion of capital which at times controlled as much as $10 trillion or more in assets. But the bubble has now burst and hedge funds will be decimated. I would guess that the amount of money they manage will shrink by between 50% and 75%".

Related Posts :

George Soros: 50–75 % of hedge funds will disappear in the coming months (Update 1)

Sources :

1. Bloomberg: Hedge Funds Shrink by $64 Billion, Eurekahedge Says (Update2), December 10, 2008 23:22 EST
2. PI Online: Alternatives briefs: Soros says hedge funds forgot ‘cardinal rule’, November 24, 2008, 12:01 AM ET

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