Rolling coverage of the latest economic and financial news
Accountancy firm Begbies Traynor has reported a sharp jump in businesses in ‘critical’ financial distress in the final quarter of last year.
Its latest Red Flag Alert report has found that there were more than 47,000 businesses near collapse in the UK at the start of 2024.
The top 20 managers made profits for investors of $67bn in 2023 according to research by LCH Investments — up from the previous record of $65bn in 2021.
This performance cemented their dominance over the rest of the industry — the 20 hedge funds which have performed best since their inception manage 19 per cent of assets but they made around a third of annual profits last year, in dollar terms.
