Swathes of red and negative inflows do not make for pretty postcards from GLG Partners’ third-quarter presentation:
More worrying, perhaps, is this slide – showing net inflows, or now, outflows, for the period:
Assets under management (AUM) have, unsuprisingly given the above, fallen between Dec. 07 and Sept. 08:
Assets in that Emerging Markets Fund mentioned in the first two slides above have since been frozen, along with the European Long-Short fund, Market Neutral and GLG credit funds.
GLG’s Manny Roman, incidentally, said as many as 30 per cent of the world’s hedge funds could disappear “in a Darwinian process” in coming months. Will GLG be one of them?
Related links:
When to prune your hedges – FT Alphaville
GLG chief expects third of hedge funds to close – FT
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