Financial Times FT.com

Hedge funds see $40bn in outflows

By James Mackintosh in London

Published: November 21 2008 02:00 | Last updated: November 21 2008 02:00

Hedge fund investors pulled a record $40bn out of the industry in October as poor performance prompted a flight to cash, according to data yesterday.

Hedge funds were hit by more redemptions in October than at any time since Chicago-based Hedge Fund Research started compiling figures in 1990, and it predicted worse to come. The industry lost another $115bn through poor performance, leaving total assets down 9 per cent at $1,560bn.

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