Friday, 9th January 2009

 

21 November 2008 - Press Briefing

Hedge fund investors redeem record $40bn

Hedge fund investors withdrew a record $40bn (€32bn) from the industry last month as dismal returns triggered a flight to cash, figures compiled by Hedge Fund Research showed, according to a report in the Financial Times.

The industry’s total assets under management dropped 9%, or $115bn, to $1,560bn last month, and HFR warned of further redemptions.

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Mayfair goes Modern

Sebastian + Barquet, a three-year old design gallery based in New York and Chelsea, is opening a new gallery showing museum quality pieces in Mayfair next month, the first in London to focus on international modernism from the 1940s to the 1960s. Its opening exhibition is dedicated to American modernist design and is curated by celebrated architect Eric Parry.

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A bronze version of impressionist artist Edgar Degas' most famous sculpture is being sold by one of the UK's wealthiest men, expected to reach a high estimate of £12m ($17.6m) next month.

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