"Hedge Fund Managers Increase Cash"
Greenwich Associates just released a report entitled, "In Tough Markets, Hedge Fund Managers Increase Cash, Reduce Leverage". The study, produced in conjunction with Global Custodian, found, "Hedge fund managers around the world responded to last year's difficult market conditions by lowering leverage ratios and moving a significant share of their assets into cash." It says, "With industry-wide performance on the decline, the hedge funds participating in this year's study reported holding a full 15% of their total assets under management in cash at the beginning of 2008. Cash levels were slightly higher among hedge funds in Asia (17%) and Europe (16%).... Among the world's biggest hedge funds, nearly 12% of assets were invested in cash."
