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Article: British Hedge Fund Managers Suffer in Market Downturn.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- March 12, 2003
CopyrightCOPYRIGHT 2003 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Angus McCrone, Evening Standard, London Knight Ridder/Tribune Business News
Mar. 12--Of all the animals in the City jungle, hedge fund managers can usually be relied upon to sound confident and gung-ho.
It goes with their aggressive approach to markets, their performance fees and their use of jargon such as "alpha creation" and "beta-adjusted exposure".
However, even this brash breed is sounding less brash these days. The same stock market that has pummelled private speculators, reducing financial spread-betting volumes by 40 percent since the autumn according to one bookmaker, is also making life hard for many hedge funds.
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