Money managers under the microscope
Another day and another report of a company looking to exit its hedge fund operation.
According to a report in today’s FT, Germany’s Commerzbank has put its $900 million fund of hedge fund manager Comas up for sale, although it may close it down if no buyer is found.
Only last week Spanish bank BBVA said it would close down its alternative investment businesses, including hedge funds, and give investors their money back.
It is unlikely to be the end. A report this week from Hedge Fund Intelligence, whose estimates for the size of the hedge fund industry tend to be at the higher end of the scale, said global assets fell more than 30 percent to just over $1.8 trillion at the end of last year, but further redemptions mean this figure will already be lower, putting further pressure on hedge fund-related businesses.