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    Nearly 20 pct of Asia hedge funds close

    The Associated Press
    28.04.2009 - 00:00 | Son Güncelleme: 27.04.2009 - 17:00

    HONG KONG - Almost 20 percent of Asia's hedge funds closed shop since the start of 2008 as a wave of investor redemptions and sharp losses amid the financial crisis took a heavy toll on the region's once high-flying industry, a new survey said yesterday.

    At least 129 funds were shuttered in 2008 and 17 more in the first quarter of 2009, a study by AsiaHedge magazine said. Hong Kong, was hardest hit with 27 closures last year alone.

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