Bloomberg says that hedge funds are cutting trading costs
amid a decline in volumes and muted performance for the $2.1 trillion industry,
a survey found.
Forty-four percent of hedge funds polled by Greenwich
Associates said they will spend less on their trading desks than in 2011,
according to a statement released by the Stamford, Connecticut-based company
today. About 40 percent of hedge funds said their trading budgets would be
unchanged this year, while 17 percent plan an increase.
Hedge funds fell 4.4 percent on average in 2011, making it
the industry’s second-worst year, according to data compiled by Bloomberg. Hedge funds cutting jobs include Louis
Bacon’s Moore Capital Management LLC, three people with knowledge of the matter
said last month....
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