The global hedge-fund industry lost $64bn of assets in November, with an index tracking its performance declining for a sixth month as economies in Asia and Europe joined the US in recession, according to Eurekahedge, reports Bloomberg. Market declines contributed to $18bn in net losses, while investor redemptions made up $46bn, said Singapore-based Eurekahedge, basing its findings on preliminary figures taken from 41% of the funds it surveys. It said hedge-fund assets shrank by $110bn to $1.65 trillion in October. The slump takes declines to 13% this year as hedge funds accelerate job cuts and brace for the biggest annual losses and investor withdrawals since at least 2000. Funds including US-based Citadel, run by Ken Griffin, have been forced to liquidate funds, limit withdrawals and eliminate jobs. Hedge-fund industry assets peaked at $1.9 trillion in June, according to Chicago-based Hedge Fund Research.