Thursday, 21 August 2014
Last updated 11 hours ago
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%.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note