Fund management market round-up: KBC’s big redemption
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Fund management market round-up: KBC’s big redemption

KBC Alternative Investment Management has suffered redemptions in its hedge fund assets that reportedly amount to 80%. The Belgian bank says the redemptions were made predominantly in 2005 by large institutional investors that were “no longer entirely satisfied with the performance of the hedge funds they had invested in, and decided to move out of convertible arbitrage and other relative value arbitrage strategies”. It says that the alternatives business had €2 billion in assets at the end of last year.

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