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Deutsche Bank shares drop after report that some hedge funds have reduced exposure

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Deutsche: Typical ebbs and flows of hedge fund business

Shares of Deutsche Bank fell more than 6.5 percent in New York trading Thursday after a Bloomberg report said a small fraction of hedge funds that do derivatives business with the bank have cut their exposure.

Barry Bausano, chairman of Deutsche's hedge fund business, told CNBC there have been outflows, but also inflows, typical of the ebbs and flows of the business. He also said the prime brokerage was "still very profitable" for the bank and there's "no question we have a perception issue."

He couldn't speak on specific numbers or names of clients, but said Deutsche Bank has about 800 hedge fund clients.