Investors in CQS, the convertible bond fund manager, have overwhelmingly backed a move by the fund's directors that would allow the directors to bar them from pulling all their cash out at once, reflecting how hedge fund investors are becoming increasingly prepared to accept restrictions to prevent peers' redemptions depleting their portfolios.

More than nine of every 10 investors in the main share class of the $3.1bn (€2.2bn) CQS Convertible & Quantitative Strategies fund voted to give the fund's directors the power to bar them from pulling all their money out at once, in a practice called gating.