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Hedge funds confident about future

Date: Tuesday, November 30, 1999
Author: Hedge Funds Review

Hedge fund managers are the most optimistic among financial services about the prospects for 2008 according to the latest financial services survey from the UKs Confederation of British Industry (CBI) and PricewaterhouseCoopers (PWC).

On a more pessimistic note, the majority of the financial services companies surveyed expect to find it significantly more expensive to access finance for investment purposes, and that they fear the credit squeeze will get worse over the coming six months.

Fund managers were the only sector to report more optimism that in December 2007. The sector saw business volumes grow for the second quarter in succession which helped to lift profitability despite downward pressure on the value of incomes from trading, investments, fees and commission. In the next quarter hedge funds expect profitability to weaken and that volumes will be lower with continued pressure on incomes.

The survey was conducted between February 20 and March 5, 2008 with 79 companies responding.