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Hedge fund turmoil roils rankings

Europe’s largest hedge fund manager Brevan Howard, rose to the top five in a ranking of the 100 largest hedge funds managers in an indication of the widespread shake-up of the industry following its worst year to date.

The ranking of the world's largest single manager hedge fund firms had a combined $1 trillion in assets under management, at the start of the year compared with $1.35 trillion at the end of 2007, according to industry publication Alpha Magazine's eighth annual Hedge Fund 100 list.

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