HEDGE FUNDS Industry assets to fall more than 20% in 2009 Assets fell 9% in first two months of this year, financial-services group says By Alistair Barr<http://www.marketwatch.com/news/mailto.asp?x=65+66+97+114+114&y=Alistair+Barr&z=marketwatch.com&guid=%7B08987255-7f63-453e-ba11-4ae4008b65b4%7D&siteid=mktw>, MarketWatch Last update: 11:19 a.m. EDT April 7, 2009 *SAN FRANCISCO (MarketWatch) -- Hedge fund assets may fall more than 20% in 2009 after dropping a record 30% last year, according to a report Tuesday from International Financial Services London, a group that promotes U.K. financial services. * In the first two months of 2009, hedge fund assets fell 9%, largely due to investor redemptions. The surge in withdrawals at the start of the year came as restrictions on redemptions imposed by some hedge funds, particularly in the U.S., were lifted, IFSL said. Hedge fund assets grew roughly 20% a year for a decade as investors were lured by the potential to generate returns that can be less correlated with stock and bond markets. However, the financial crisis that struck last year was too severe for the industry to avoid and the average manager lost a record 15.7% in 2008, IFSL said. Those losses, combined with investor withdrawals, left assets in the hedge fund industry down nearly 30% at $1.5 trillion last year, the group added.
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