Kirsten Bischoff, Opalesque New York: Morgan Stanley Chief Executive Officer John Mack recently told CNBC anchors that he estimated 30% of hedge funds within the industry would close by the end of the credit crisis. $88bln left the industry in September 2008, and Morgan Stanley analyst Huw van Steenis, reported to clients that he expects US hedge funds to lose 15% of their assets and European funds to lose 25% of assets (both through redemptions) by year end, predicting that the industry could shrink to $1.3tln in assets.
But there are investors who view the condensing of the industry as a way to find those managers who have performed well in light of the credit crunch and these investors are beginning to formulate a strategy for investing in 2009.
In fact, a recent report sponsored by Rothstein Kass surveyed ultra-wealthy investors and found 58% of single family office respondents (from a global pool) planned to increase hedge fund allocations in 2009 (coverage).
“As difficult as this environment is I believe that it will ultimately result in huge opportunities for managers and investors alike” Jane Halsey, President of Roundtable Forum told Opalesque. Halsey, who is in the midst of planning a December 2nd Cap Intro event to be held in New York City has run roundtable forums introducing hedge funds and investors since 1999.......................
Source:
Investors to look into 2009`s HF winners...........
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