After a year that has seen the near-collapse of financial markets and the worst average performance by hedge funds in the industry's history, many managers have been forced to close their funds by a drastic reduction in assets under management  and a consequent shrinking of management fees. Raju Panjwani, founder and chief executive of Epitome Global Services, says in a white paper that when the increasing costs of running a hedge fund threaten to overwhelm revenue, managers must plot a new course in order to survive.

Click here to read the white paper