Q: What’s lost more than Citigroup’s stock this week? A: Citi’s Corporate Special Opportunities hedge fund, over the last month. But facing the ninth time it has had to intervene recently on one of its alternative investment funds in a unit once headed up by CEO Pandit himself, is the bank ready to tip its hand?

Citigroup is liquidating its Corporate Special Opportunities hedge fund after it lost 53 per cent of its value last month, marking the ninth time in recent months that the bank has had to close or rescue a fund in its alternative investment unit.

The collapse represents the latest setback for Citi’s chief executive, Vikram Pandit, a former head of the alternative investment unit, who revealed plans on Monday to cut the bank’s headcount by 52,000.

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