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As Many As 1,000 Hedge Funds to Close in 2003, and Be Replaced
One-sixth of the total hedge fund market will close, only to be replaced by 1,200 to 1,500 more.
Many will close due to poor performance. New ones may open, thus creating a significant turnover in hedge fund management. This will create a strong need for due diligence investigations of the new hedge funds and their managers.
Source: Investment News, December 2, 2002
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