Thursday, 30 March 2017
Last updated 9 hours ago
Mar 3 2010 | 5:29am ET
Australian hedge funds got off on the wrong foot in 2009. The Australian Fund Monitors index, which soared more than 20% last year, dropped 1.5% in January.
The downward movement Down Under was pretty widespread, with the Australian Stock Exchange Index losing more than 6%. Equity hedge funds lost an average of 1.83% in the first month of the year; non-equity funds fell 0.98%.
The going was even worse for equity 130/30 funds, which shed 6.34% in January, the only AFM subindex to do worse than the broader Aussie markets. Commodity hedge funds and commodity trading advisors also took January hard, losing 4.52%.
Single-manager funds fell an average of 1.7% on the month. Funds of hedge funds lost just 0.36%.