Many jittery hedge funds are clinging to core stock holdings in the hope that a rebound in equity markets in the final four months of the year will save the $2 trillion industry from its second calendar year of losses in just four years, the good people at Reuters report.
On average, funds that bet on rising and falling equity prices have suffered a loss of 14.4 percent so far this year, according to Hedge Fund Research's HFRX index, which gathers data on hedge fund performance globally, while MSCI's world index of developed stocks is down 10.5 percent.
Barring a rapid rebound in the final months of the year, traders are now staring at the prospect of another negative year, after a loss of some 27 percent in 2008 according to HFRI, and of no lucrative performance fee for some time to come...
Read more at http://www.reuters.com/article/2011/09/06/financial-hedge-performance-idUSL5E7K624H20110906
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