Australian Hedge Funds Stumble In January

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%.

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    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…