as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
system
what funds were closed during or after the recent recessions?
user
yes, many hedge funds (for example) did not survive 2008-2009.  but hedge funds were failing both before and after that period, and other hedge funds thrived.  those types of funds are particularly risky because they depend so much on leverage (i.e. on money that isn't actually theirs). more publically-visible funds (like those of the big-name index fund companies) tended not to close because they are not leveraged.  you say that "a great many companies" failed during the recession, but that's not actually true.  i can't think of more than a handful of publically-traded companies that went bankrupt.  so, since the vast majority of publically-traded companies stayed in business, their stocks kept some/most of their value, and the funds that owned those stocks stayed afloat. i personally did not see a single index fund that went out of business due to the recession.
assistant