CNNMoney asks: feeling crappy about the hit your portfolio took last quarter? You're not alone. Hedge funds also had a lousy third quarter, delivering one of the worst performances on record.
The summer's stomach-churning roller coaster ride throughout all markets , including stocks, bonds, commodities and currencies, triggered a loss of $85 billion in capital for the hedge fund industry during the three month period ended Sept. 30, according to industry tracker Hedge Fund Research.
The group's HFRI Fund Weighted Composite Index, a benchmark index for the hedge fund industry, dropped more than 6%, making it the worst quarter since the fourth quarter of 2008, and the fourth worst on record. The quarter's beating destroyed the gains logged by hedge funds during the first half of the year. On average, hedge funds are down 5.4% for the first nine months of the year, according to HFR's index...
There’s more at http://money.cnn.com/2011/10/19/markets/hedge_funds_performance/index.htm?iid=SF_BN_LN
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