Funds and administrators take a pummeling

Over the nine-month period from the beginning of Q3 2008 to the end of Q1 2009, the alternatives industry saw its greatest decline since Carbon360¢ª began tracking it in 1997, losing $703.82bn in assets through a combination of poor performance and investor redemptions.The Carbon360¢ª Fund Administrator Survey, scheduled to be released as part of the same report, found that among the top 25 third-party fund administrators, single manager hedge fund assets under administration fell from $2.80