Hedge Funds Only Halfway Finished Dumping Assets

Hedge funds have a way to go before they’re finished unwinding positions, de-leveraging and freeing up enough cash to meet redemption requests, according to survey conducted by wealth management firm Sanford C. Bernstein & Co.

The survey, reported by FIN Alternatives, mentions that of 65 hedge fund managers overseeing $100 billion, 63% felt that the unwinding of assets is only about half over. On the positive side, a majority said that they should be done dealing with the flood of redemptions by the end of first quarter, 2009.

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