Investors in Dexion Absolute, the world’s largest listed fund of hedge funds, today pulled what would have been a devastating punch to listed trusts as an investment vehicle for hedge funds, by voting to remain invested in the company's fund.

More than 95.5% of the voting shareholders in the fund's largest share class, sterling, cast their votes in favour of the fund continuing. As a result, the entire sterling share class, representing £815m (€901.5m), will stay invested, despite the fact that a majority of shareholders in the euro-,US dollar- and Australian dollar-share classes, which together amounted to less than a quarter of the total assets, voted for their share classes to be wound up and the money returned to them.