Asian hedge fund business may halve

This gloomy view was expressed by hedge fund industry participants in a panel debate on the future of the hedge fund industry at the recent Asia Risk 2008 conference in Hong Kong. "One-third to one-half of the industry is going to disappear," said Michael Gibson, a partner at Lim Advisors in Hong Kong.

The first casualties were so-called long/short equity funds that had made extremely high returns in 2006 and 2007 - often in triple-digit per cent growth - from what panellists termed "leveraged be

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