(Reuters) UK voters’ surprise decision to leave the European Union roiled markets on Friday, but hedge funds appear to have avoided crippling losses, according to market data and people familiar with fund performance. Money managers were positioned relatively defensively coming into the vote, meaning they had reduced the amount of capital exposed to market turbulence, and even used the resulting sell-off as a buying opportunity, according to a report from Credit Suisse’s prime brokerage division late on Friday.
Brexit more heartburn than heart attack for hedge funds
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