'We are approached by hedge funds considering fund liquidations on a weekly basis'
Andrew Shrimpton, the former head of hedge fund regulation at the Financial Services Authority who now runs Kinetic, a consultancy, said: ``The credit crisis is definitely kicking in for the hedge fund industry now. We are being approached by hedge funds considering voluntary fund liquidations on a weekly basis.''
Investors pulled $3.7 billion out of hedge funds in June, punishing these loosely regulated portfolios for their poor performance in May, according to data released earlier this week.