Hedge funds try to hold back redemption wave

[Joanne98]

Tensions rise as some managers try to lock up investors' money for longer

SAN FRANCISCO (MarketWatch) -- Hundreds of hedge funds will shut this year as an estimated wave of as much as $700 billion in investor redemptions crashes over the industry, but some managers are trying to hold back the tsunami.
At least 75 hedge fund firms, including GLG Partners (GLGglg partners inc com
GLG) , Deephaven Capital Management, RAB Capital (UK:RAB: news, chart, profile) and New Star Asset Management, have put up "gates," suspended redemptions or unveiled a restructuring this year.
Preventing lots of investors withdrawing their money at once helps avoid selling assets at fire-sale prices and potentially relieves short-term market pressure.
However, the trend is also raising tension between hedge fund investors, who may need cash quickly, and managers, who may be more interested in holding on to assets to protect their businesses.

http://www.marketwatch.com/news/story/Hedge-funds-try-hold-back/story.aspx?guid=%7bF8B916EF-A1B8-4F07-A8FD-F0E121FC4A10%7d&print=true&dist=printMidSection

[jpak]

1. Boo Freakin' Hoo hoo hoo

These are the asholes that gave us $4 a gallon gas this summer.

Fuck 'em