Speedy digestion of amaranth flakes shows the industry's emerging maturity

The Amaranth case is surprising in many ways. It is definitely a surprise that a well-respected multi-strategy hedge fund could lose about $6bn in little over a week. It is perhaps an even greater surprise that such a loss would have little knock-on effect on the hedge fund industry and the wider capital markets.

On 2 October, the Edhec Risk and Asset Management Research Centre released a report on