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

FINtech Focus: Fundbase Aims To Revolutionize Access To Hedge Funds

Jan 23 2015 | 11:03am ET

Global investment in financial technology—also known as fintech—is booming....

Lifestyle

Is Steven Cohen Going to Buy the Brooklyn Nets?

Jan 19 2015 | 6:49am ET

Rumors that Steve Cohen was interested in the Brooklyn Nets emerged after Scott...

Guest Contributor

Investors Benefit From Evolution Of Fund Of Hedge Funds Model

Jan 22 2015 | 12:27pm ET

The evolution of the fund of hedge funds model over the last few years represents...

 

Editor's Note