Reuters reports that Hedge funds have sharply cut back on bets and are less willing to make punts on market moves after a tough June in which turbulence over Greece's debt crisis left managers nursing further losses.
Hedge funds found few bets -- calling market direction or trying to buy cheap stocks and go short on expensive ones -- worked in a month dominated by worries over Greece's attempts to push through austerity measures needed to secure a bailout.
"It's not been a good month," said one prime broker who asked not to be named. "Some strategies that were a bit crowded -- long commodities, long gold, short dollar -- didn't perform well. Hedge funds lost 1.6 percent in June, according to Hedge Fund Research's HFRX index, lagging the FTSE 100's 0.7 percent fall….
http://www.reuters.com/article/2011/07/08/hedgefunds-performance-idUSL6E7I817K20110708
No comments:
Post a Comment