Illiquidity, volatility still rife in secondary market – Hedgebay

Thu Oct 27, 2011

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Continued illiquidity and a shift in the price of underlying assets in the secondary hedge fund market have caused fluctuating trading levels in the last few months, according to Hedgebay.

Secondary-market trading data from July to September has shown that, despite a steady rise in the average price over the third quarter, volatility should still be expected.

The average discount to NAV on transactions completed in Q3 has climbed steadily from around 70% in July to 85% in September. Despite this, previous pricing levels - notably June's...

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