Hedge Funds Suffer Worst Monthly Performance in a Decade
October 3, 2008
Citing restrictions on short selling, credit and liquidity as drains on hedge funds in September, as many decided, instead, to sit on “significant cash balances,” Hennessee Group’s performance report for the month the average fund’s performance was the worst in a decade, with funds losing between 5% and 9%.
Hennessee Group, nonetheless, said the outlook for hedge funds is “positive as the market dislocation should provide significant opportunities as markets return to fundamentals.”
Separately, Lipper Tass released its second quarter hedge fund performance report, showing the average fund returning 2.58%.
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