2012-02-21cnbc.com

``A rough year for Asian hedge funds in 2011 exposed the long-only bias of many managers' portfolios, leaving the industry fighting a tough battle to retain clients as assets shrink and fund closures accelerate... Net outflows in each of the last four months of 2011 have pushed the industry $52 billion behind its peak assets of $176 billion hit in December 2007, data from industry tracker Eurekahedge showed, spelling troubles for start-ups, prime brokers and other service providers who had pinned hopes on a potential expansion.''



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