Hedge Funds Shed $170 Billion In Third Quarter

Dec 2 2008 | 1:16pm ET

Hedge funds were battered by poor performance and skittish investors in the third quarter, as assets under management in the industry fell by $170 billion.

Net outflows from hedge funds were $18.6 billion, according to Lipper TASS. That, combined with widespread investment losses, left the industry with $1.63 trillion at the end of September, compared to $1.8 trillion at the end of the second quarter.

The biggest losers in terms of outflows were long/short equity, fixed-income arbitrage, multi-strategy and emerging markets funds. Some strategies, by contrast, managed to bring in new money in the difficult environment: global macro, managed futures, equity market-neutral and dedicated short bias.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Versum Materials (VSM), with a market capitalization of $2.7 billion, enables chipmakers to achieve higher performance at lower cost with enhanced reliability. Versum is a leading global provider of electronic materials for the integrated circuit and flat-panel display markets.