Power to the investors

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Hedge funds experienced a horrendous 2008. Hit by negative returns across most strategies, hedge fund managers saw record redemption requests by investors, with total industry assets under management (AUM) almost halving in the 12-month period to just $998.4 billion, according to California-based TrimTabs Investment Research.

Fund managers may have looked upon 2009 as a fresh start and an opportunity to regain their footing. The preliminary figures for hedge fund performance were certainly encou