CNBC – The pace of hedge fund failures is picking up after another year of relatively weak returns.
Some 461 funds shut in the first half of the year, according to industry research firm HFR. If that pace continues, nearly 1,000 hedge funds will close in 2014. That would be the most since 2009, when 1,023 funds liquidated. The record was 1,471 in 2008 during the financial crisis, according to HFR.
