Funds managers cut fees

(Reuters): Hedge funds hard hit by the global financial crisis are becoming more open to offering lower fees to institutional investors amid diminishing returns and assets under management, investment consultant Watson Wyatt has said. In the first 10 months of the year hedge fund losses have reached 15.48 percent, according to Hedge Fund Research. In October investors pulled $40 billion (27 billion pounds) outof hedge funds with further outflows expected during the rest of the year. Go to article.