Mystical Dates on the Hedgistanian Calendar
Dec 4th, 2008 | Filed under: Hedge Fund Industry Trends, Today's Post
For generations, those who have predicted the end of the world have relied on specific dates of religious or astronomical significance (e.g. the Mayans, whose doomsday calendar is pictured at right). This isn’t lost on Hollywood, which began filming the apocalypse movie “2012″ in August. (Thankfully, the movie will be released in ‘09, giving us a couple of years to prepare).
Last week, Dow Jones reported that one consulting firm predicted a coming hedge fund apocalypse with between $650 billion and $700 billion being “withdrawn from hedge funds” this year. A week before that, however, Citi said that it expected only $100 billion to be redeemed in Q4 and just this week Lipper TASS reported Q3 hedge fund outflows of only $18.6b or 1% of assets. As we have reported here, estimates of hedge fund redemptions are all over the board. The FT ran the following chart last week using HFR data, that shows the size of recent redemptions in relation to previous subscriptions:
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