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Strategies & Market Trends : 50% Gains Investing

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From: Paul Kern	4/14/2009 7:50:34 AM
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Hedge-Fund Redemptions Slow In March; Assets Still Fall Last update: 4/14/2009 7:46:20 AM DOW JONES NEWSWIRES Hedge-fund redemptions slowed in March in another encouraging sign for the industry, though total assets continued to decline despite small performance gains in the month, according to HedgeFund.net. The hedge-fund tracker said funds returned an average of 1.84% in March, though redemptions and liquidations trimmed assets by roughly 1%. The decline was much narrower than the prior two months of 2009, which were hurt by a still-slumping stock market that bottomed - at least for now - in early March. Other hedge-fund trackers also reported similar industry returns for March, while noting performance badly trailed that of rebounding stocks. According to HedgeFund.net, declines in hedge-fund assets have been slowing since topping out at $186.43 billion in December. March's figure was $17.6 billion. Total assets at the end of the month stood at $1.724 trillion. Last year was the worst on record for hedge funds, as the financial crisis spurred investors to convert holdings to cash and some funds faced unexpected disruptions to their trading strategies, including temporary bans on short-selling stock. For the first quarter, hedge-fund assets fell an estimated 11% on $217.75 billion of reductions. Investors have been pulling their money out of hedge funds in droves as returns slumped and people wanted increased access to cash amid the worsened credit environment. -By Tess Stynes, Dow Jones Newswires; 201-938-2473; tess.stynes@dowjones.com (END) Dow Jones Newswires

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