A tough year

Institutional Investor Rankings 2008

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Twelve months is a long time in financial markets. This time last year, the first signs that rising delinquencies in the US subprime mortgage market might be more than an inconvenience were starting to rear their ugly head, with two hedge funds run by Bear Stearns Asset Management becoming the first to buckle under the weight of collateralised debt obligation of asset-backed securities (CDO of ABS) losses in June.Flick back to the pages of last year's institutional investor end-user poll (Ri