Financial Times reports that UK hedge funds saw upwards of $40 billion in redemptions last month. This is the highest monthly level of hedge fund redemptions in the UK since figures were first compiled in 1990. Even worse for funds and their investors, hedge funds lost more than $100 billion in AUM from lost market value.
One manager of a large hedge fund said: "Any hedge fund that says they didn't get hit by massive redemptions at the end of September is lying."
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