Reuters – Many small European funds of hedge funds could close or be forced into a merger or sale as falling asset bases hit a sector whose reputation is already badly damaged in the eyes of investors and hedge funds alike.
Having seen $130 billion (84.5 billion pounds), or more than a fifth of assets, leave since the start of last year, firms are still finding asset-raising tough, as witnessed by Eddington Capital’s recent decision to shut down and return clients’ cash.
