Hedge Funds Down 4% In August, Big Names Hit Hard

Aug 29 2011 | 1:43pm ET

August isn't quite over yet, but when it is, it will almost certainly go down as one of the worst months in hedge fund history.

The average hedge fund is down 4.1% this month, according to Hedge Fund Research. That means that, barring a remarkable rally between today and Wednesday, August will be the worst month since the collapse of Lehman Brothers and one of the five worst months since 1990.

Stock managers have been hardest hit, losing an average of 6.9%, HFR said. The declines have burned some of the industry's biggest names, among them Paulson & Co., one of whose funds was down almost 22% through the first three weeks of the month.

Few, if any, hedge funds have matched that precipitous drop. But many are nursing big losses of their own, including Owl Creek Asset Management, Perry Capital and York Capital Management, the Financial Times reports.

Others suffering include Highbridge Capital Management's long/short equity strategy, down 9.2%, Cantillon Capital's Global fund, down 6.25%, and Viking Global Investors, down 4%.


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...

 

FINalternatives Trending

From the current issue of