Hedge funds question banks' creditworthiness

02/15/2008 | Financial Times (free content)

Hedge funds are evaluating their banking relationships and pulling assets from banks they see as risky. The trend follows billions of dollars in write-downs by big banks and signals a shift in the relationship between hedge funds and bankers. "In August, everyone was worried about a hedge fund blowing up, but now they are worried about a bank blowing up and taking a few hedge funds with it," said Angelos Metaxa, a director of CM Advisors.

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