Tuesday, 27 September 2016
Last updated 9 hours ago
Oct 10 2012 | 12:25pm ET
Hedge funds are aggressively cutting back on their trading staffs as weak trading volumes left those teams with less to do.
Some 44% of hedge funds have cut their trading-desk budgets since last year, according to a Greenwich Associates survey. A similar number, 43%, said they were in the process of cutting costs.
Just 17% said they were boosting their trading budgets.
Greenwich said that hedge funds appear to be cutting more aggressively than other institutional investors; it blamed low trading volumes for hurting revenue at the desks.