Large Hedge Fund Failures | |||
June 2007 to August 2008 | |||
Number ($bln) leverage | Assets weighted | Asset | |
Fixed income | 31 | 97 | 16 |
Structured products | 21 | 79 | 17 |
Sovereign/macro | 4 | 8 | 14 |
Other fixed income | 6 | 10 | 10 |
Source: Bloomberg, IMF |
It seemed like such a no-brainer. This time last year asset managers of every hue were falling over each other to establish debt opportunity funds – the obvious response to the looming liquidity crunch in the credit markets. Indeed, the number of firms setting up funds as early as 2005 showed how clearly they were seen as the next big money-spinner.
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