Hedge funds cut operating budgets in response to slowdown
The shrinking of assets managed by hedge funds is creating a strain on technology as operating budgets are reduced, according to both Thomson Reuters and SunGard.
The most recent research by Chicago-based Hedge Fund Research estimates that global hedge fund assets declined by $210 billion in Q3 of 2008, with investors withdrawing more than $40 billion in the month of October alone.
Most research firms predict that the industry will continue to contract during the course of 2009, resulting in a
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