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Published: Saturday 24 August, 2013

outlet stores online shopping outlet stores online shopping ?Looming global recession will put thousands of hedge funds out of business

stocks plummeted at the opening bell

Millions of savers and pension fund holders face huge losses on their investments as hedge funds feel the pain of the credit crunch.

Over recent years British pension and insurance funds have channelled big chunks of their money into the highly controversial 1.3billion industry because big returns were promised.

But the growing turmoil on financial markets could obliterate up to a third of the industrys value.

An expected fire sale of hedge fund assets will also put further downward pressure on stock markets, affecting the nine million Britons whose pensions are linked to share prices.

Hedge funds are relatively new and highly se outlet stores online shopping cretive companies, which invest the money of the superrich and pension funds.

Unlike banks, they are unregulated and use cavalier investment techniques, such as betting that a share price is going to fall, to make their money.

The imminent collapse of so many funds is expected to unleash a fresh wave of panic on the worlds stock markets.

Last night, Mark Dampier, of financial adviser Hargreaves Lansdown, said: It affects the man in the street.

If youve got an endowment maturing, or you are coming up for retirement and need to buy an annuity, you will see your savings worth much less than before. Hedge fund deleveraging is dragging the whole market downwards.

Hedge funds came about as an alternative to traditional fund managers, who invest clients money on their behalf in stocks, bonds, property and other outlet stores online shopping assets.

The industry has doubled in size in the last three years and is one of the most powerful forces in the global financial system.

Hedge funds, which account for around a third of all shares traded on the stock exchange, are being squeezed on two fronts, by their millionaire investors and the banks who lend them money.

As blind panic took hold following the collapse of Lehman Brothers, clients yanked 20billion out of hedge funds around the world. lowincome mortgages into a falling market.

With losses mounting, banks started to call in their loans to debtladen hedge funds.

This prompted another scramble for cash, forcing funds to sell some of their best quality assets at fire sale prices.

As more go bust, they will be forced to sell their assets in one go, making yesterdays stock market carnage a regular occurrence.

Hedge funds have been accused of engineering a panic selloff in the shares of Halifax Bank of Scotland, which forced it into an emergency tak outlet stores online shopping eover by Lloyds TSB, and there will be little sympathy for the highlypaid bankers now expected to lose their jobs over the coming months. outlet stores online shopping