Hedge Fund Redemptions Reach Record in Q4 2008:
Hedge fund investors withdrew more than $150 billion from hedge funds in the fourth quarter of 2008, a new record. Several funds including Tudor Investment Group, Citadel Investment Group, Drake Capital, and other large funds were forced to either suspend redemptions or create new lock-on requirements to halt the flow of assets.
Hedge funds lost more than 18% of their value in 2008 and saw total hedge fund assets under management (AUM) drop 30% from $2.0 trillion to $1.4 trillion in 2008.
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