Billion Dollar Club Fund launches & closures

Contraction under way as assets plunge 30%, new fund starts tumble

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Assets in the European hedge fund industry fell by 30% last year, while the rate of fund launches dropped to its lowest level since 2002.

EuroHedge's latest industry survey found that European hedge fund assets plunged to just under $400 billion by the end of December, down from $575 billion at the end of 2007 - with all of the decline coming in the second half of 2008.

New fund launches fell to their lowest level in seven years, with just 200 new funds starting in Europe in 2008 (compared to 400 a year in 2006 and 2007).

The survey findings