It’s not just the big Wall Street firms that are having dismal years and slashing bonuses.
Nearly 60% of hedge funds lost money in 2011, according to preliminary data from the HedgeFund Intelligence Database.
Asia-based funds suffered the worst performance, declining 5.70 percent, according to the database. Japan’s devastating tsunami and nuclear disaster might have contributed to this. European funds declined 2.45 percent. US funds lost just 0.50 percent.
Fund of funds lost 5.04 percent.