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Saturday, 21 January 2017
Last updated 4 hours ago
Jan 23 2009 | 1:05am ET
Hedge funds hoping that the worst of investor redemptions and poor performance was over may have been overly optimistic, according to one analyst.
Morgan Stanley’s Huw van Steenis predicts that the global hedge fund assets may fall below $1 trillion this year. Van Steenis said that hedge funds are on track to lose $450 billion in assets to withdrawals and market losses, a 37% decline from the $1.2 trillion they managed on New Years Day. That would be an even larger drawdown than last year, when hedge funds lost $600 billion in assets, one-third of what they started the year with.
“It’s hard not to be bearish in this environment,” van Steenis told Bloomberg News.