3000 Hedge Funds Could Close, BNP Paribas Says
BNP Paribas is speculating that more than 3000 hedge funds that operated in 2008 will be gone by the end of 2009. BNP Paribas is also noting that hedge fund assets could fall under $1 trillion.
According to Hedge Fund Research, more than 600 hedge funds closed their doors in 2008. up more than 70% from 2007.
The third quarter, the last quarter for which data is complete, witnessed more than 300 hedge fund closures, a new record.