China-Almost 1,300 hedge funds have closed in the wake of the stock market plunge

Almost 1,300 funds have liquidated, and a similar number may be at risk, according to Howbuy Investment Management Co.

Bloomberg have more:

• the number of hedge-fund-like vehicles exploded in past years
• Government made it easier to register funds and introduced new financial instruments
• In the most devastating blow to domestic hedge funds, China has imposed new restrictions on trading in stock-index futures, a key investment strategy to dampen volatility and avoid big losses.
• "It spells the end, at least temporarily, for China domestic hedge funds," Hao Hong, chief China strategist at BOCOM International Co. in Hong Kong, said in an interview.

Yikes ...