Reuters- A majority of hedge fund managers say a U.S. recession is “very likely” in 2008, but fewer than one in five said an economic slowdown would be bad for their funds, a survey ofseveral-hundred hedge fund managers released on Tuesday found.<\/p>\n
Rothstein Kass, a provider of auditing and tax services for funds, said it sponsored the survey that polled 239 hedge fund principals with a median $492 million in assets under management.<\/p>\n
More than 61 percent of those polled said they believed a recession was “very likely” in 2008, the survey found.<\/p>\n
Still, only 17 percent of those surveyed viewed an economic downturn as bad news for their funds, with some 66 percent suggesting a recession would bring investment opportunities.<\/p>\n
“Respondents seem undaunted by prospects for a recession in 2008,” said Howard Altman, co-managing principal at Rothstein Kass. “While over 43 percent will likely change their fund’s particular investments, fewer than 15 percent anticipated changes to the fund’s underlying investment strategy.”<\/p>\n