Billion Dollar Club

Bruised and battered as industry assets rewind to levels of 2005

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Only multi-strategy and macro funds weathered the storm of redemptions that occurred in the second half of 2008 - wiping 30% off regional AUM. But many had predicted worse

The good news is that it is not as bad as many had expected. The bad news is, it's still bad. The Asia-Pacific hedge fund industry's total assets under management dropped by 36% in 2008 from $192 billion to $122.4 billion. This is better than the 50% or thereabouts drop that many had been expecting. But in reality, the fact that we are back to 2005 rather than 2004 is