Hedge Funds

Report delay hurts Clinton


The Clinton Group is down, but not out, after more than half of its hedge fund assets evaporated in redemptions and investment losses last year. About half of the $3.3 billion of capital that it lost - leaving it with just $2 billion of hedge fund assets - was redeemed at year-end.

What unnerved many investors was the decision not to release a long-promised independent report on the firm's portfolio valuations carried out by PriceWaterhouseCoopers. The report was supposed to assess the valuation methodology.