Looking through the history of various funds, investment trusts and similar, one gets the impression that in the majority of cases investors could have waited out the recent recessions with no real long term loss, as the dramatic decreases in value have been followed by a reasonable recovery of value in almost all cases. Obviously a great many companies were not fortunate enough to survive the recession, but were funds and trusts closed as well? Is the impression one receives while browsing the history of currently available funds misleading as a result?
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.