This is supposedly one of the main reasons why the resource sector (especially equities) have been suffering over the past 18+ months. Hedgefund Redemptions.
http://www.bloomberg.com/news/2012-...al-to-return-client-money-as-fund-closes.html
My biggest client who runs and ETF told me that in addition to Kleinheinz, around 400 other small asset managers are closing their doors this year. Small meaning $10 million or less in assets.
In addition to this.. There is a short china fund with around $50 million fund rumored to be closing it's doors after being down 40% over the last 18 months(which is shocking considering how much the Chinese markets are down over that period.)
The master fund for that China short fund is also in trouble apparently. They are supposed to be closing shop pretty soon. Their manager hit it big by catching the Greek CDS deal (no, not Kyle Bass) and has sense struggled. Tough markets and no one is winning right now.
http://www.bloomberg.com/news/2012-...al-to-return-client-money-as-fund-closes.html
My biggest client who runs and ETF told me that in addition to Kleinheinz, around 400 other small asset managers are closing their doors this year. Small meaning $10 million or less in assets.
In addition to this.. There is a short china fund with around $50 million fund rumored to be closing it's doors after being down 40% over the last 18 months(which is shocking considering how much the Chinese markets are down over that period.)
The master fund for that China short fund is also in trouble apparently. They are supposed to be closing shop pretty soon. Their manager hit it big by catching the Greek CDS deal (no, not Kyle Bass) and has sense struggled. Tough markets and no one is winning right now.