Fifteen percent, or 778 hedge funds, closed in the final quarter of 2008, directly due to the financial markets meltdown, according to Hedge Fund Research. That topped the previous record for quarterly closings, which occurred in the third quarter of 2008 when 344 hedge funds shut down.

For the entire year, 1,471 hedge funds closed, 15% of the universe, leaving a remaining 9,284 funds.

For the entire year, 659 hedge funds opened, 56 of them in the final quarter.

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