Tuesday, January 10, 2012

Wall Street pay to fall by up to 60%... and hedge funds post one of their worst-ever performances... How will they Survive?

It’s news likely to delight Occupy Wall Street protesters and anyone else who isn’t a massive fan of financial workers or the firms that employ them.

Hedge funds posted one of their worst-ever annual performances and pay at more than 30 big financial firms is set to plunge by up to 60 per cent.

The average hedge fund sank 4.8 per cent in 2011 - compared to the Standard and Poor's 500 stock index, which ended the year roughly flat.

It’s only the third year since Hedge Fund Research began measuring industry-wide performance in 1990 that hedge funds have finished down.

It’s also the industry's second decline in four years, even though the fourth quarter of 2011 saw hedge funds gain 1.3 per cent. Read More