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CHICAGO, (March 20, 2015) – The number of new hedge fund launches fell again in 2014, the third consecutive year of decline, while fund liquidations saw their first drop since 2010, according to the latest HFR Market Microstructure Industry Report, released today by HFR? the established global leader in the indexation, analysis and research of the global hedge fund industry. Hedge fund launches totaled 1,040 for 2014, a decline of 20 funds from the 1,060 funds launched in 2013. While launches have trended in a narrow range in recent years, they remain well below the peak of 2,073 funds launched in 2005, though nearly double the local trough of 659 launches in 2008.