Hennessee: Hedge Funds Down 0.55%

Sep 8 2010 | 3:37pm ET

Hedge funds fell slightly last month as the broader markets took a tumble.

The Hennessee Hedge Fund Index dropped 0.55% in August. By contrast, the Standard & Poor’s 500 Index shed 4.7% and the NASDAQ Composite Index lost 6.24%.

“Hedge funds started the month with reduced net and gross exposure levels, which allowed them to protect capital while generating ‘alpha’ in August, as the equity markets declined.  Managers remain cautious given the global economic uncertainty, though the consensus is that we will likely avoid a ‘double-dip’ recession,” Hennessee co-founder Charles Gradante said. “It was also encouraging to see that 43% of hedge funds reporting were able to generate positive performance in August as markets started to respond more to fundamentals.”


In Depth

Q&A: George Schultze On His Fund's Unique Approach to Distressed Investing

Apr 16 2015 | 1:01am ET

George Schultze is a managing member of Schultze Asset Management, a long/short...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Minnesota Supreme Court Rejects The Ponzi Scheme Presumption: Lenders Claw Back Some Of Their Own Rights

Apr 17 2015 | 9:23am ET

A recent court ruling in Minnesota has put an end to the Ponzi Scheme Presumption...

 

Editor's Note