Financial assets lost $50,000bn worldwide (Headlines)
Financial assets worldwide might have lost more than $50,000bn, equivalent to a yearâ??s global economic output, according to a report by the Asian Development Bank (ADB).
Ex Merrill executives invested in Madoff (Fund News)
The Wall Street Journal reported on Thursday that top former Merrill Lynch executives, including two former chief executives, invested in hedge funds that lost money with Bernard Madoff, becoming the highest-level Wall Street victims of the scandal to date.
Institutions surpass wealthy individuals as largest hedge fund investors (Fund News)
According to research by The Alternative Investment Management Association (AIMA), institutional investors such as pension funds and university endowments now account for more than half of the estimated $1.4 trillion hedge fund industry's assets, surpassing wealthy individuals.